Earlier quoted context omitted.
> There is no credible economic theory of firm “power seeking” How is the theory of market power combined with everything else we know not that? [1] It seems obviously in the firms interest even if their primary motive were still profit since it ensures increased rates of profit (modulo risk of a regulatory smackdown.) 1. https://en.wikipedia.org/wiki/Market_power
The idea of powerseeking is an outright reification of power that conflates definitions by assuming the worst possible light. Influncing the market doesn't mean complete control over production - that is an obsession of Marx's ideological descendants. Just influncing it in either direction for any reason works. Providing it cheaper than market rates or convincing others to pay more also qualifies. If everyone in a vi…
Sure, but simply calling an acquisition like the one discussed in the article "increasing efficiency" interprets it the best possible light, which seems equally in need justification.