Of course me being a free-market type, I see that consumer surplus as a result of no government interference.
In the absence of Government regulation and interference, the Internet has thrived and offered more innovation and consumer “happiness” than anything in the real world. It can’t rely on Government regulations to secure a marketshare. Itunes has to provide what the consumers want and at a competitive price to stay profitable. It’s about as close as we can get to perfect competition, that they teach in principles. Of course now, only Big Bs remains, because like Meyer was talking about, they sell vinyl.Ĭompetitive advantage comes solely through market innovation and consumer satisfaction. It was big news in the college paper, because the used store, Big Bs, was really popular with the students.
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I know for a fact that this happened in Vegas by UNLV, where Tower Records had tried to get the city to revoke the business license of a popular used cd store. Firms can’t relay on Government regulation for competitive advantage like they do in the real world.įor example, Itunes can’t rely on zoning laws or licensing restrictions to create a market, like they might be able to in the real world to keep out competition. Yet as a market, the internet requires an enormous amount innovation in order to stay profitable. Sure there is fraud and abuse, but no more than in a system with Top-down government control. It’s pure Anarchy on the internet, but rules have emerged, which is very Hayekian. Sure there is government checks on the brick and mortar companies like Google or Microsoft, but on the actual Net, there is none. I’m not talking about the development of the internet, but the internet as a marketplace.Īs a marketplace, there is virtually no government interference or regulation. What do you use to buy music online, a State run site or private company?īut I think your missing my point. What web site do you go to to shop, a State run site or a private company? Who developed high speed internet, the State or Private companies? Who do you pay for your internet service? Do you pay the State or a Private company. But, the explosion of the internet as a marketplace was and is completely private. Yes they did, the Internet concept and early internet was developed under DARPA, I’m sure this is what your eluding too. “Are you absolutely certain that the government hadĪ minimal role in establishing the networks”
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