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Technology Stocks : AUTOHOME, Inc

ATHM 22.04

-4.0%

Jan 30 9:30 AM EST

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To: Robert Scott who wrote (3055)	11/2/1998 7:35:00 PM
From: ahhaha	Read Replies (1) of 29970

It isn't valid to claim anything is fair or unfair. That's one reason why free markets exist and can't be commandeered by fairness legislation. You would have to have infinite knowledge or knowledge of the future to reach any conclusion about what is fair and even then, you'd be wrong. The reason is that the word "fair" has no meaning. It can't be defined. It is perfectly relative and absolute at the same time. Therefore it is internal to each individual. I agree that conditions achieving the greatest good for the greatest number are hard to attain, but many industries operate under essentially free market conditions attaining it. The semiconductor market is a good example. No fantasy there. So why not apply the same rules to telecommunications? Why re-invent the failures of the fixed markets of cable tv? Local to long is currently struggling under the same malaise. I predict that eventually, within a maximum of several years, the local to long ruling will be rescinded. The professors will say it was only necessary to have those rules in place to govern the transition to free markets. The fact is the companies prefer the protection afforded under this transition regime. They are under the mistaken notion that it protects their profitability and buys them time. It does neither. You'll never get the execs of the RBOCs to admit that. It is government's responsibility to ensure a competitive market. That would be accomplished by forcing the RBOCs out of their regional protection. You do that by opening up the market without provisos. You let them slug it out. Do you really believe that they would cave in and disappear or would they fight like ten tigers? They sure aren't doing that now. They're hiding behind the government's failure to understand how to go about achieving competition. It is done by removing artificial barriers created presumably to create competition. You can't create competition, but you can stifle it.

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