Of course it’s profitable to be a monipoly and doing the “right thing” might be to allow competitors in but one could basically never truly do that while the bottom line is the most important thing.
It’s so strange to me that so many truly believe a profit motive is all that’s needed to have good outcomes. It was never so, only starting in the 80s did companies care about shareholder value over everything else.
> It’s so strange to me that so many truly believe a profit motive is all that’s needed to have good outcomes.
Not strange. In the U.S. at least, we're acculturated to this ideology our whole lives through education and media.
That said, many/most of the wealthiest or influential market participants, fortune 500 CEOS, academics from top biz/econ programs understand the importance of trust in the economy and the role that an effective government (contracts, the rule of law, and regulation) play in enabling that trust.
If you or your industry are the target of regulation, though, government BAD, regulation BAD, regardless of what you philosophically believe.
People still think they’re getting a good deal which is mostly laughable. I’ve been in industries while wanting more regulation in them - it’s always shocking for me to imagine the amount of unreturned loyalty businesses will get from their employees.
Of course it’s profitable to be a monipoly and doing the “right thing” might be to allow competitors in but one could basically never truly do that while the bottom line is the most important thing.
It’s so strange to me that so many truly believe a profit motive is all that’s needed to have good outcomes. It was never so, only starting in the 80s did companies care about shareholder value over everything else.