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View Diary: Comcast admits what everyone in a TWC/Comcast market already knows: there is no competition (125 comments)

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  •  Free Market Myth (12+ / 0-)

    I think one of the biggest myths out there is that business is the
    guarantor of free markets and competitio­n. Businesses hates
    competitio­n and prefer monopoly, monopsony and oligopoly and will use
    their influence with government to stifle competitio­n.Effective regulation­, transparen­cy and good government
    are needed to promote free markets.

    The quote below is from the book Capitalism and Freedom written by
    Milton and Rose Friedman. Dr. Friedman is the economist who is quoted
    most often when conservati­ves are praising free markets and

    "But we cannot rely on custom or conscious alone to interpret and
    enforce the rules; we need an umpire.The­se then are the basic role of
    government in a free society; to provide a means where we can modify
    rules, to mediate difference­s among us on the meaning of rules, and to
    enforce compliance with the rules on the part of those few who otherwise
    would not play the game."

    For whatever reason, this part of Dr. Friedman's philosophy is never mentioned when it comes to making "free markets" work.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Fri Apr 11, 2014 at 09:27:57 AM PDT

    •  I bring this up all the time w/ Libertarians (3+ / 0-)
      Recommended by:
      jeffrey789, JerryNA, blueoasis

      It's probably why most of them have moved on to the Austrian crackpots like von Mises.

      Friedman is far too "liberal" these days for them.

      I do find, however, that this is a great way to get many folks to acknowledge a positive role of government. It would just be so much easier to explain if government would do more of the right thing.

      •  The common libertarian response... (5+ / 0-) always that 'monopoly is impossible without government intervention'. If you ask why, you always start hearing about 'diseconomies of scale' and that's where it leaves off, because they don't actually generally understand what they're arguing.

        When I ask about specifics — companies using their market power to corner supplies of necessary raw materials, companies dumping goods below cost until the upstarts go out of business, companies bribing board members or doing hostile takeovers, all the ways that companies have held onto monopolies in the past — their eyes just glaze over and they suddenly don't want to talk about it any more, because they're obviously right and I'm obviously wrong because diseconomies of scale.

        They live in an ideological world, one where they can never be proven wrong, because it is conceptually impossible for them to be wrong.

        •  Libertarians simply have to pretend the Gilded (0+ / 0-)

          Age never occurred.

          Otherwise, all their arguments fall apart.

          Is it "Gordon Gecko Democrat" week here at Dailykos?

          by JesseCW on Fri Apr 11, 2014 at 02:31:09 PM PDT

          [ Parent ]

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