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View Diary: Book review: Michael Lind's 'Land of Promise' (94 comments)

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  •  "if overseen closely" (13+ / 0-)

    Aye, there's the rub.

    Ma Bell was a classic, continent-wide monopoly, closely regulated (and, it should be admitted, with a consistent internalized corporate ethic) to serve the public as well as its shareholders.

    Spendthrift gabbers like me, yapping it up with friends thousands of miles away, generated much more revenue than the cost of maintaining the system, which enabled the company to offer unreasonably cheap local, unlimited phone service, so the average family could make carpooling arrangements or call the fire department.

    Plus, the company invested serious dough into basic research, as a result of which it was a powerhouse of technological innovation (transistors, anyone?).

    The same could be said of the Big 3 broadcast networks.

    Monopoly is not inherently bad, but must be constrained by rigorous regulation to assure the public interest is served. In the absence of such, corporations naturally and inevitably devolve into Wal Mart predators of the common weal.

    Republicans represent both sides: the insanely rich and vice versa.

    by Crashing Vor on Sun Apr 21, 2013 at 02:47:47 PM PDT

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