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I think it is important that America start discussing how oligopolies are becoming dictatorial to our way of life.
I would be interested in hearing/reading peoples views on oligopolies.
Both represent market failures, though an unregulated monopoly will be worse overall for economic welfare than will an unregulated oligopoly. Of course, neither are desirable... both result in substantial transfers of consumer surplus to producer surplus and both can result in an overall 'deadweight loss' to economic productivity (harberger triangles for those of you versed in economic theory).
Depends on which ones you're talking about. Google's not so bad.
I feel that Google is one of the most dangerous "ones" out there. One must give the firm a big acknowledgement for delivering what buyers want. Yet, their economic power could be quite a storm in the future.
Both represent market failures, though an unregulated monopoly will be worse overall for economic welfare than will an unregulated oligopoly. Of course, neither are desirable... both result in substantial transfers of consumer surplus to producer surplus and both can result in an overall 'deadweight loss' to economic productivity (harberger triangles for those of you versed in economic theory).
Very good! I think my greatest concern is the power oligopolies have in our political word.
I feel that Google is one of the most dangerous "ones" out there. One must give the firm a big acknowledgement for delivering what buyers want. Yet, their economic power could be quite a storm in the future.
What service does Google provide that couldn't easily be switched to another provider? I think there is a difference between being the main supplier in a market and being able to control the market.
What service does Google provide that couldn't easily be switched to another provider? I think there is a difference between being the main supplier in a market and being able to control the market.
Yahoo and others have been asking that same question for the last 5 years. They provide a better search experience with more relevant site rankings. Would be difficult to replicate as they have a gazillion servers and some very smart employees.
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