Amazon seems to be the ruling company right now … but for how long?
Government is force and coercion, while the market is voluntary because you can go somewhere else, Yaron Brook explained on this week’s “The Yaron Brook Show.”
“The marketplace is a place free of coercion until the government steps in,” he said.
Because better competitors will inevitably rise if consumers aren’t satisfied, the government doesn’t need to stop large companies from becoming monopolies. Yaron used the example of Netscape, an internet service that people used to pay for until Microsoft introduced free Internet Explorer. Netscape accused Microsoft of having a monopoly, and the government needlessly stepped in to break up the “trust” of the internet.
A current example is the rise of Amazon, the online marketplace that has expanded far beyond selling books and CDs. Amazon seems to be dominating the market, but growing companies and smart entrepreneurs are just waiting for a slipup to offer consumers a better experience.
“There’s always competition,” Yaron said. “There’s always somebody waiting in the wings to get you.”
Listen to more episodes on demand of “The Yaron Brook Show” on TheBlaze Contributors.