monopolies

Some commentators and politicians have proposed regulating Facebook, Twitter, and Google as public utilities.  To make sense of this proposal, let’s consider the economic role of public utilities.

We’ve oft noted the government’s inability to do well…just about anything.

Only three online intermediary platforms command bottleneck distribution control of ~90% of online demand and ~90% of offline supply.

Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy.

Three companies now have enormous power over our economy and society. Politicians on both sides should be worried.

Nothing could be more confusing than fees charged by hospitals and doctors. There are many reasons why hospitals would like to keep it that way.

Who thinks it wise to allow a single company to corner the global market for any set of critical inputs to the global economy — like stocks, bonds, currencies, industrial metals, precious metals, energy resources, grains, food, or livestock — with no regulatory oversight, transparency or obligation to be an honest broker?

John and Donny are joined by Heartland Director of Communications Jim Lakely in episode #46 of the In The Tank Podcast. This weekly podcast features (as always) interviews, debates, and roundtable discussions that explore the work of think tanks across the country. The show is available for download as part of the Heartland Daily Podcast every Friday. Today’s podcast features work from the Heartland Institute, the Center for American Progress, and the Commonwealth Foundation.

Northern Virginia has experienced strong and consistent population growth over the past decade. Loudoun County grew more than any other county in the commonwealth over the past three years and recently became Virginia’s third most populous county. A booming population has led to growth in Northern Virginia’s economy, with competitive markets developing in all manner of industries, save one: health care. A single provider that has developed a near-monopoly, Inova, dominates health care in region.

In a classic case of regulatory overreach, the California Public Utilities Commission has notified three ride-sharing companies — Lyft, Sidecar and Uber — that their respective experimental new features violate state laws regarding chartered transportation.