Comment by arrosenberg
5 years ago
The abuse is economic concentration, everything else is treating symptoms. Antitrust, price regulations, fair competition laws and the like are the remedy to that abuse. Obviously we would need to do more than one action - I'm talking about restructuring the economy. It's only whack-a-mole if you go one at a time. Knock-off a few big ones and the rest will settle to get the best deal possible.
I don't believe we are as impotent as your response would imply, and we are certainly capable of putting a stop to these abuses and enforcing laws that create fair, competitive markets. I agree it's a longer term project, but it's the only one that will actually solve the issues. It's a losing proposition to focus our energy on short term fixes.
> I don't believe we are as impotent as your response would imply
I don't believe we're impotent, which is why I'm suggesting new laws such as a consumer bill of rights and right to repair. I think that antitrust is actually too little too late in addressing problems. After all, you can't take anti-trust action against a company until it's already a trust. ;-)
> It's a losing proposition to focus our energy on short term fixes.
I think we disagree about which is the long term fix and which is the short term fix. I personally consider antitrust action against individual companies to be a short term fix, whereas permanent universal consumer protection laws are a long term fix.
> After all, you can't take anti-trust action against a company until it's already a trust. ;-)
That's not what the laws on the books say. It's a colloquial term, and nobody like a pedant.
> I personally consider antitrust action against individual companies to be a short term fix, whereas permanent universal consumer protection laws are a long term fix.
Ralph Nader said the same thing in the 60s and 70s. Consumer protection laws have been used to encourage economic concentration and the abuses of labor and society that always come with it. The American government has never succeeded at compliance regulation — it gets weakened and corrupted, and we always wind up getting the worst version of laissez-faire economics as a result.
Further, how would you make it "permanent"? Constitutional amendments are a non-starter right now, and Congress can't pass laws that have 80%+ popular support. You know what is permanent? Court-ordered break-ups under the Clayton Act.
> That's not what the laws on the books say. It's a colloquial term, and nobody like a pedant.
It was merely a play on words, but the point was that antitrust only kicks in when significant market power is involved, some kind of restraint on competition, whereas other laws protect consumers from abuses by companies of all sizes, even the smallest "mom and pop shop" companies.
> Ralph Nader said the same thing in the 60s and 70s. Consumer protection laws have been used to encourage economic concentration and the abuses of labor and society that always come with it. The American government has never succeeded at compliance regulation — it gets weakened and corrupted, and we always wind up getting the worst version of laissez-faire economics as a result.
Again, I find it strange how you think one set of laws can't possibly be intelligently and usefully applied by the government, while at the same time thinking another set of laws can, i.e., antitrust.
> Further, how would you make it "permanent"?
What do you mean? Laws are permanent by default, unless the legislators write an expiration date into the law.
> You know what is permanent? Court-ordered break-ups under the Clayton Act.
Tell that to AT&T. ;-)
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