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Originally Posted by jfman
It’s a failure of capitalism, yes. Those billions aren’t coming from thin air, they’re coming from the pockets of consumers because competition doesn’t exist.
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Because competitors don’t exist because they can’t come up with a product as good, for the price. That’s not market failure, everyone else had the same opportunity, one of Microsofts competitors for a windows type OS was IBM. Much bigger and better funded.
There are always winners and losers, new entrants into a market by their presence do not guarantee competition, they have to have a desirable product.
As long as they are given the chance to market and sell their product fairly, that is all that is required. The consumer decides.
You also didn’t answer whether Gates and Job’s family, should be stripped of their wealth.
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They’re benefiting from taxpayer investment previously made and being sold off cheap.
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BT was sold off 35 years ago, before Optical Fibre was even a thing. Deregulation of telecommunications in the U.K. was , and is, a resounding success.
If telecoms was still a state run utility, Jesus! you think it’s bad now? We’d probably still on dial-up.
The water and energy sectors were privatised over 30 years ago. Who are the billionaires makes billions after investing billions in Victorian infrastructure?
Also people forget that the utilities also had their own operational arms. I.E. the guys that dug up the roads, designing, maintaining and installing. That is all now contracted to 3rd parties providing real competition and value in the sector, with cross sector savings and expertise passed back to the consumer. I bet they don’t re-nationalise those bits.
As someone well versed in “economic theory”, you don’t show it. Especially in the area of once nationalised utilities.