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To: Don Lloyd who wrote (7038)8/13/2001 10:47:45 AM
From: PMG  Read Replies (1) | Respond to of 74559
 
<<<The proper use of competition is to determine which producer shall be the monopoly producer >>>

<<< not demanding an artificial production competition >>>

Wow! Now who is the socialist here??? What you describe is exactly the system of the former GDR, I am impressed! Who TF shall do such regulation??

Also, you didn't catch the concept of w = cr PLUS cr, which includes of course the fact that people are not only consumers but also can share profits (pr) by owning stock.

It is a proven fact that monopolies reduce w, ask any Harvard professor if you have any doubts...



To: Don Lloyd who wrote (7038)8/13/2001 12:09:12 PM
From: Moominoid  Read Replies (1) | Respond to of 74559
 
Monopolies rip off the consumer but competitive industries as you say don't have any resources for research and development etc. The ideal seems to me to be oligopoly where there is competition among a limited number of players and supernormal profits aren't driven to zero so their are resources for innovation and we don't end up with a complacent monopolist who doesn't innovate and rips off consumers.


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