Elizabeth Warren’s Coming War on Apple, Google, and Amazon | Ninos P. Malek   Leave a comment

Sen. Warren’s attack on “monopolies,” ironically, threatens consumer choice and competition.

Source: Elizabeth Warren’s Coming War on Apple, Google, and Amazon | Ninos P. Malek

 

Although the article does not ask the question, I will. Who is asking Senator Warren to start “anti-trust” busting. Those of us who have read New Deal or Raw Deal remember that Goodrich, Firestone, and Goodyear asked the Roosevelt Administration to regulate the tire industry in order to create a virtual monopoly for their tires, damaging Pharis Tire and Rubber Company, which had survived the worst of the Depression because they had lower prices for superior tires. When the Roosevelt Administrative fixed prices at a higher rate (supposedly to support the industry), Pharis could no longer compete.

In (supposedly) seeking to make a level playing field for all tire companies, the government limited competition and drove the smaller companies out of business.

So, I would ask again — who has asked Elizabeth Warren to regulate these companies? I’d be willing to bet it was one of the companies. It doesn’t favor the little guys to reduce competition and historically speaking, it’s never the little guys who ask for it. Lela

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Posted July 21, 2016 by aurorawatcherak in economics

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