Comment by mlrtime
18 days ago
Ok, another capitalism bad post, great.
What is your solution then? Explain how that happens/migrates to, in the US?
18 days ago
Ok, another capitalism bad post, great.
What is your solution then? Explain how that happens/migrates to, in the US?
Solution is to prosecute private monopolies out of existence, by enforcing the Robinson-Patman Act and the Sherman Act.
Ok who defines monopoly? I know there is a textbook definition, but it's still somewhat subjective. Also the US won't do this if it creates a international competitive disadvantage.
The FTC defines monopoly, the courts define monopoly when private litigants bring monopolization cases and via precedent, and Congress defines monopoly via lawmaking. Of course it's subjective, everything is subjective when it comes to the law. The US needs to do it if it wants to maintain its status as a world power instead of becoming a banana republic where the law is a joke.