Here a cartel. There a cartel. Have you ever noticed that all these cartels are all, every single one of them, facilitated by the state? Monopolies don’t exist in free markets, or at least they don’t for very long. I know that’s not what you’ve been taught. It wasn’t what I was taught. But it’s true. The profit motive incentivizes firms to undermine cartels, to break from colluded agreements. Now if the trust is given a license (in some form) from the government, suddenly monopoly becomes very possible.
Government doesn’t break up monopolies (in actual fact), it creates them. Or as is often the case the government protects a duopoly so that everyday people think they’ve got a choice.
Monopolies are created by the state for “friends” of the state.
(From The Washington Post)
Come Tuesday, the national pastime will be the subject of oral arguments in a portentous Supreme Court case. This pastime is not baseball but rent-seeking — the unseemly yet uninhibited scramble of private interests to bend government power for their benefit. If the court directs a judicial scowl at North Carolina’s State Board of Dental Examiners, the court will thereby advance a basic liberty — the right of Americans to earn a living without unreasonable government interference.
The board, whose members are elected by licensed dentists and dental hygienists, regulates the practice of dentistry in North Carolina. To the surprise of no one acquainted with human nature, the board wields its power for the benefit of fellow members of the cartel of licensed dental practitioners.