Comment by pdonis
3 years ago
> Capitalism optimises for monopolies. Everyone agrees on this - this is why we have antitrust mechanisms.
This is not even close to being correct. First, monopolies are almost always the products of government interference with markets; "natural" monopolies are rare. Second, antitrust mechanisms were not put in place by benevolent governments to help consumers; they were put in place by governments who were getting political contributions from the failed competitors of the so-called "monopolies", who could not compete on a level playing field and so went to the govenrment to buy favors. The actual results of antitrust enforcement have been to make things worse for consumers, not better.
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