Massachusetts has not legalized cannabis products so much as entered the drug market via a handful of chosen franchisees, with the extra competitive advantage that you could be fined or jailed if you buy from the competition. Let freedom ring.
The theory that Facebook acquired Instagram and WhatsApp primarily to squelch future competition represents a view of antitrust that is simplistic and naive. It also endangers a startup business model that has produced incalculable benefits through innovation.
Should I ever have the chance to meet Faye Lewis, I will soundly congratulate her for her fabulous striving, for her inevitably imperfect, yet wildly-admirable journey.
The administration’s lack of principles opens wide the door for the Democrats in Congress not only to introduce an overtime bill that goes far beyond the Trump rule but also beyond even the Obama ceiling. And as expected, they just jump at the chance to do just that.
No matter one’s opinions on antitrust and big business, arguing that the big tech companies’ primary impact on our economy and lives has been anything but positive and even revolutionary is difficult.
Countless minds and countless hands have contributed to the slow march of civilization and helped to create a modern world (one fraught with problems, which I don’t minimize) in which I can perform innumerable operations closed off to previous generations without thinking about them.
When any particular outcome emerges from the market process that is not suitable for market participants, the market will adjust and, sooner or later, produce another, better outcome. By contrast, government failures are rarely improved with adjustments.
The theoretical perfection of markets is not a valid argument against government intervention, nor is it a valid reason for governments to intervene in service of that ideal.