The fear of the formation of monopolies reflects a fundamentally unjustified misunderstanding of what a monopoly is, the nature of profits, and how, according to Austrian Economics, a monopoly can actually form. If an entrepreneur is able to identify an unsatisfied demand or create a demand where once there was none, i.e. cell phones, Bitcoin etc. and successfully build a business to quench that demand why should he not be showered with profits? If our entrepreneur is able to provide the market with a cheap and efficient product or service that gratifies his customers, his domination of that particular field will have been well deserved until such time as a competitor is able to offer a cheaper or more efficient product or service or a superior substitution. Potential competitors although they may be temporarily absent can never be entirely eliminated due to the spontaneity of human ingenuity. This is an example of a natural monopoly and is nothing to be feared; rather it is to rejoiced and celebrated for it can only come about through the thorough pleasing of the consumer. This is the win-win nature of Free Market Capitalism. Contrary to “government school” propaganda, coercive monopolies abound today and are in many ways much worse than the corporate trusts of the early 20th century we were all indoctrinated to fear. Today the various special interest groups enjoy a larger and more expansive “government” to appeal for protection and sovereign immunity for their sundry crimes. The Internet has made it much easier to determine which corporate entities receive the lion’s share of subsidies, bailouts, and federal grants to those who choose to investigate for themselves. These fascistic entities engage in rent seeking by sending their armies of lobbyists to bribe and shower our political masters with luxurious gifts in order to construct the laws directly in their favor and to erect massive barriers to entry for any aspiring competitor. This is the vile nature of the Corporate Fascism we all live under. It is a wretched system that rewards reckless behavior and punishes virtue and diligence. Show your discontent by refusing to participate in this farce. It can only continue to thrive by the participation, attention, and consent of the people, to whom they owe their vital subsistence. Vacate the State! - DC “The theory of natural monopoly is also ahistorical. There is no evidence of the natural-monopoly story ever having been carried out — of one producer achieving lower long-run average total costs than everyone else in the industry and thereby establishing a permanent monopoly.” Thomas J. DiLorenzo peacefulanarchism/monopolies-in-a-stateless-society/
Posted on: Mon, 22 Dec 2014 13:55:14 +0000
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