More free market theology from the Bush administration. Good thing they aren’t constrained by old-fashioned ideas.
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More free market theology from the Bush administration. Good thing they aren’t constrained by old-fashioned ideas.
Previous post: Solow on financial institutions
Next post: Budgets Have Two Sides
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And, of course, the hypocrisy from these companies is breathtaking. Microsoft has no compunctions about using antitrust laws against competitors who produce a better-quality product against which it can't complete. Just like Google had no compunctions about doing the same to Microsoft. Pathetic and disgusting.
Thanks for posting this, Russ. People need to hear about this and understand how atrocious it is.
What I find particularly interesting is that Microsoft is one of the companies most strongly opposed to the deal. How do you gain profit when you stop innovating? That's easy: lobby the government for corporate welfare and coercive interventions against your competitors.
That reminds me of a line that Paul Graham said a while back about online dating companies like eHarmony… (from memory) "You can tell they've stopped improving their service because they're having to advertise for new customers on TV."
Well, I guess the analog now is that you can tell how much a company has stopped innovating by how much they lobby the government.
If firms are suppose to maximize profits and it's profitable to use the government against your competition, then first ought to do so.
If this is not desirable (and I think that it is not), then we ought to work on making it not profitable.
While I think the idea of suing to stop this thing is absurd under current anti-trust law (is there really a distinct market for search-based advertising? Is there anything stopping somebody new from entering that market?) and just bad policy altogether, I don't think it's unconstitutional. It's almost certainly legal under current commerce clause thinking.
Ironic that Microsoft, having been the victim of bogus antitrust action by the government, would join an equally bogus antitrust suit themselves… Ironic, but not in the least surprising.
I agree with you Russ that this action is shameful and disgusting. Apple just had their unveil of new iPods this morning, wherein they ADMITTED to having around 75% market share of portable mp3 players!!! Where's the justice department? How can they let Apple continue this unmitigated evil? Please, someone save us from this commercial domination by Apple, the consumer electronics oligarch!!! How dare the Bush administration allow tiny little companies like Sony and Microsoft to get beat up by the big, mean Apple?! Oh the humanity!!!