What’s worse: monopoly power or government intervention?

Politicians of all stripes increasingly agree with Karl Marx on one point – that monopolies are an inevitable consequence of free-market capitalism, and must be broken up. Are they right? Stuart Watkins isn’t so sure.

Free markets left to themselves in a capitalist context are great at producing wealth, but will inevitably tend to concentrate that wealth in ever fewer hands, leading to increasing inequalities of income, power and wealth, and undermining the benefits that might be supposed to flow to consumers, such as cheaper prices. The logic inherent in market exchange must, in other words, progressively undermine the very qualities that the champions of the market promise they will...
source: Money Week

2020-10-01 16:11
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