Re: Did Atlas really Shrug? Monopolies are not competitive free market capitalism
Author: BOB2
Date: 12-03-2021 - 11:03
Ron, it's a clever reference to his heroine in Atlas shrugged... So, he is trying to be "RR" relevant...
Of course, Atlas didn't shrug, nor did he hold up the world, except in the respective myths of their respective believers. But, after reading Ayn Rand's Atlas shrugged, you understand the real "ideals" behind creating a big monopolistic railroad market, which are greed and power to control the markets...
As has been noted in the post about the real reasons behind and impacts of PSR, made possible by the mega RR's, which have been allowed to impose discrimatory pricing and fees, and driving off "profitable" traffic, as a result of the mega mergers this country has allowed, this is what you get. It's because we've allow a monopoly, and/or oligopolistic duopoly, to be able to "fix" or "set" their own price. And while this is a great way to maximize profits, without having to compete, because you have a monopoly, it has nothing whatsoever to do with the theories expressed in Adam Smith's "competitive", "free market" vision of "capitalism". A system with many real "competing" buyers and sellers, who's competing interactions are what "set" the lowest marginal price at the lowest marginal cost, for the most product, for all consumers, and from all sellers.