Very recommendable! A reminder that free markets suffice to successfully challenge any monopoly power! Usually, and in many instances it is government failure that creates unchallenged business monopolies.
In a free market economy, competition for consumer or business spending is either fierce or new, serious competitors may arise any time.
"... The diffusion of ChatGPT is truly astonishing, with an adoption rate surpassing any other consumer application in history. This is exciting news for Google’s rival Microsoft, given the integration of ChatGPT with Bing.
Attempting to play catch up, Google introduced its AI-powered chatbot Bard in early February, but the unveiling was largely unimpressive and shares of Alphabet fell by almost 10 percent shortly thereafter.
Signals of insecurity for Alphabet’s stock prices and a more meticulous management of Meta are perfect examples of why the market matters more than political interference. Indeed, although Congress loves to hammer Big Tech, time and attention could be better spent elsewhere, as any concerns raised on the Hill tend to be about temporary matters. ...
For starters, a monopoly only occurs when the freedom of exchange is impeded by the forced absence of alternative options. Accordingly, whenever the possibility for an alternative to come about is present, a monopoly in its truest sense is not occurring, even if there are no other options present for consumers.
As such, monopolies are a non-issue in a free market economy, since entrepreneurs must respond to demand to maintain their success and, if demand is being met, it would be inefficient to force new entrants to compete with firms who are already fulfilling market needs. If demand is not being met, however, competition tends to arise and occur whenever it is worth the risk and investment, provided entry barriers are kept minimal. ..."
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