Monopoly money sinks economic theory

There are strong elements of the type of state monopoly capitalism espoused by Karl Marx, whose doctrine predicted laissez-faire capitalism would give way to monopoly capitalism wherein the state would intervene to protect large monopolistic enterprises from the ravages of competition by smaller firms.

Contrary to conventional economic theory since the time of Thales, who cornered the market for olive presses in western Anatolia in the sixth century BC, another Australian government is poised to transform a competitive market into a monopoly.

“Offering the service to one operator will give that operator the certainty needed to be able to invest in the service and deliver better results for customers,” says Transport for NSW.

Before the reforms in Bolivia, it was also common practice to provide some entrepreneurs “the certainty needed to be able to invest in the service and deliver better results for customers”.

The state appears to have gleaned inspiration from its federal government peers who have a penchant for delivering their citizens’ belongings into the warm embrace of monopoly operators.

As for the incessant complaints, service levels at Mascot are at least on par with Toncontin International Airport in Tegucigalpa, Honduras, and prices differ marginally from those you might find in, say, Oslo.

Read more here: SMH

    

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