Thursday, June 30, 2016
Senator Warren on market competition
The Republicans effuse about the free market, meaning a market where competition incentivizes producers to make better products for less consumer cost. While that's the spin they sell what they really mean is where companies can have near monopoly power to do whatever they want, including higher prices for higher profits at social expense. That of course is not free markets at all. In this speech Warren, a lover of competitive markets, lays out the reality behind consolidated monopolistic markets and how they destroy the very ideas they say the believe in.