> Markets prevent monopolies and cartels. A lot of the optimism seems to rely on this statement and...I'm not convinced? But I also admit I'm not well informed on the topic. Does anyone have suggested reading on 'market discipline', as they're calling it? I mean, the first person on their "Patron Saints of Techno-Optimism" is Jeff Bezos, who is actively dealing with an antitrust lawsuit from the FTC regarding Amazon'…
We can go through business by business and see the rise of monopolies and oligopolies. Universal owns half of the US music market - Universal, Sony and Warner own over 80% of the US music market. Accounting is done by the Big Four, advertising by its own Big Four.
Just down the line - consolidation, oligopoly, monopoly. That is what markets produce. Standard Oil reversed its breakup into ExxonMobil, as did the Baby Bells into Verizon and AT&T. Even the government intervention into the monopolies gets reversed.