By Frank Shostak
Economic mythology said governments must regulate markets to prevent monopolies. In reality, it is the government regulation itself that creates monopolies, which do not emerge in free markets.
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By Frank Shostak
Economic mythology said governments must regulate markets to prevent monopolies. In reality, it is the government regulation itself that creates monopolies, which do not emerge in free markets.
Be skeptical of any company that calls to be regulated.
They probably want to create a regulatory moat between them and their competition.
It's astonishing when people don't get this.
"Even Walmart supports raising the minimum wage!" without a hint of skepticism.
"Amazon wants everyone to make $20 an hour"
Of course they do. Their competition will go out of business and they will automate away the cost increase.
Also, they already pay $20 an hour. They have to, because it's such a miserable place to work. Now everywhere can be equally miserable.
Yeah, I was referring to a few years back when all this fight for 15 stuff was going on.