Monopoly is not a game - it's the Real Thing

Discussion in 'Economics & Trade' started by LafayetteBis, Sep 24, 2017.

  1. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

    Joined:
    Oct 24, 2016
    Messages:
    9,744
    Likes Received:
    2,086
    Trophy Points:
    113
    Gender:
    Male
    From the Economist: Monopoly is not a game

    Book: "World Without Mind: The Existential Threat of Big Tech" (By Franklin Foer)

    Excerpt from the Economist:
    In America monopoly/oligopoly has become (over the past half century) The Game. By agglomerating markets, some companies have arrived at dominant positions where between half and two-thirds of all revenues are shared by a handful of them. It's an oligopoly, not as good as a monopoly, but a lot more legal in the US.

    But, it means that by avoiding competition, companies can - without overt collusion - settle into a pattern of market--sharing based upon a "Prime Price" set by the leader, and all the rest who might follow with lower prices (but not the same "Brand Recognition").

    So, what companies are "oligopolies"? From Investopedia:
    Profits are higher, so the key market players can be pleased. But, is that what we, the consumers, should expect from a truly competitive Market-economy?

    The above array of market-sectors indicates a very high percentage of our GDP, and it should not be allowed! Why is it allowed? Because of our deceitful electoral method fueled by huge amounts of private-riches to maintain the status-quo of oligarchic non-competition! (Even Obama was afraid to touch it.)

    Whilst we, the sheeple, pay through the nose for higher-than-need-be prices in non-competitive markets.

    And let's not count on Donald Dork's administration to do a damn thing about it. On the contrary, bring on the reduction of upper Income Taxation for our oligarchs ... !
     
    Last edited: Sep 24, 2017
  2. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    Republican capitalism is competitive and thus prices must be low to survive. Democratic socialism is not competitive( think health care and education) and prices are sky high. So if you want competition to lower price and raise quality you must vote Republican.
     
    DennisTate likes this.
  3. kazenatsu

    kazenatsu Well-Known Member Past Donor

    Joined:
    May 15, 2017
    Messages:
    34,608
    Likes Received:
    11,196
    Trophy Points:
    113
    Certain types of industries are much more prone to monopolies than others.
    In any case, monopolies usually don't last long. Other small players get into the game.

    Economic imbalances can also behave similar to monopolies in many respects, albeit with the supply & demand curve. That's when a smaller number of holders own something that's inherently scarce and in high demand. One could say they have a sort of "monopoly" on that commodity. (Maybe it's Manhattan real estate, or worldwide supplies of rare earth elements)
     
    Last edited: Sep 25, 2017
    Ndividual likes this.
  4. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

    Joined:
    Oct 24, 2016
    Messages:
    9,744
    Likes Received:
    2,086
    Trophy Points:
    113
    Gender:
    Male
    Monopolies do not happen over night. In fact they are mostly oligopolies where (by means of the consolidation fad) markets naturally aglomerate into three, four, five dominant companies that are obtain (with their non-collusive) high-prices very strong profits.

    Of course, at the cost of John & Jane America, the consumers.

    True enough, but hardly related to the general Supply & Demand within a market economy. It's a highly special case ...
     
  5. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    you mean govt libcommie industries since Republican capitalism breeds competition and low prices while libcommie industries do not?

    Bernie said:"it is silly to have 23 deodorants when people are going hungry." To libcommies competition is wasteful. They don't understand how competition leads to lower prices.

    when Bernie runs the deodorant industry and eliminates wasteful competition deodorant will be as outrageously expensive as health care. Do you understand why?
     
  6. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    as if a lib commie knows how many companies is ideal in any given market?? what not tell us the formula??????
     
  7. DennisTate

    DennisTate Well-Known Member Past Donor

    Joined:
    Jul 7, 2012
    Messages:
    31,489
    Likes Received:
    2,601
    Trophy Points:
    113
    Gender:
    Male
    Intriguing......
    I would be honored to get your reaction to......


    http://www.politicalforum.com/index...-experience-devaluation-of-the-dollar.515180/

    Are tens of millions of Americans about to experience devaluation of the dollar?
     
  8. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

    Joined:
    Oct 24, 2016
    Messages:
    9,744
    Likes Received:
    2,086
    Trophy Points:
    113
    Gender:
    Male
    It has already happened. Here is the European Central Bank's infographic of recent Euro values against the Dollar.

    Note the rise in the Euro (against the dollar) from 1.05 at the end of last year to the present value of 1.18. That's a 24% revaluation of the Euro! (Wow! ;^)

    And, still, life goes on ...
     
  9. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    If monopoly is NOT a game but the real thing, I'm rich beyond all dreams. Where can I spend my monopoly money?
     
    Last edited: Sep 28, 2017
  10. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,310
    Likes Received:
    7,461
    Trophy Points:
    113
    Gender:
    Male
    That's a great, empty, and useless theory. How does a "small player" get into the pharmaceutical production business? or the cable TV business? or the computer production business? or the airline business? or the fossil fuel production business?

    Oh, I see LafayetteBis already listed those. But the point is made.
     
  11. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

    Joined:
    Oct 24, 2016
    Messages:
    9,744
    Likes Received:
    2,086
    Trophy Points:
    113
    Gender:
    Male
    They don't last long?

    You live on which planet? The car industry was formed by a handful of risk-takers like Henry Ford, and it hasn't changed very much in the past half-century!

    Like Google or Facebook. They "invent something" and agglomerate that "something".

    But age-old industries that are well established are "cast in stone". There is not that much competition by product category. Even cars yield to the rule of oligopoly. Meaning that without true competition, then a market-economy pays higher than need-be prices for goods/services - the consequence being the enrichment of the company's Top Management.

    By what Divine Right does top management deserve "stock-option" that make them incredibly wealthy, but not poor guy on the shop-floor. And I don't mean equally, but equitably. My point being this: Riches, yes, can be accrued by managers in any service/goods industry but the question remains "is the distribution of resulting wealth fair and equitable?" And, no it is NOT!

    Perhaps you don't think the car-market in the US is an oligopoly? Then learn from here: The effects of oligopoly in the US Automobile sector on pricing and development - excerpt:

     
    Last edited: Sep 29, 2017
  12. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,310
    Likes Received:
    7,461
    Trophy Points:
    113
    Gender:
    Male
    Once again, you are addressing the wrong poster. I didn't say "they don't last long."
     
  13. Deckel

    Deckel Well-Known Member Past Donor

    Joined:
    Nov 2, 2014
    Messages:
    17,608
    Likes Received:
    2,043
    Trophy Points:
    113
    Monopolies improve the standard of living over time.
     
  14. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    obviously it's not with 47 companies competing and 200 more who would love to compete here if they could. Why do liberals get everything wrong?
     
  15. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113

Share This Page