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Originally Posted by Pierre
The product and the market will see it out in the end.
If it’s no good it’s no good, no matter how much money you throw at it. The consumer is not an idiot.
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Companies can already have dominated the market by then. Uber is a classic example who rolled out aggressively and made huge losses. As have Amazon until only recently. The plan is to run at a loss - backed by investors - to see out local competitors and once they've cornered the market then they can raise prices and make a profit.
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I don’t disagree that some people will be bullied or pushed aside along the way and nothing makes that right. But ultimately the consumer decides.
Unless they don’t get to decide.
Like if the government decides for you.
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But they always have on some issues. We have anti-monopoly laws, we can block mergers if it makes one company too big and we try to stop cartels too. The market is not an all-powerful force and can only work to consumers advantage if it's a level-playing field. That's where Government has to step in. Equally, they need to step in if their citizens are being exploited by corruption (i.e the aforementioned cartels) or as workers.
My argument (and haven't followed the other one) is not that capitalism is bad - it's done quite well - but that it needs intervention too and one area that we need to examine is people leveraging their wealth to dominate new areas of wealth production (such as automation) before 'the market' can challenge that and at the expensive of workforce.