RE: Russian Air Crash
September 7, 2011 at 5:11 pm
(This post was last modified: September 7, 2011 at 5:12 pm by Minimalist.)
It's an oligopoly: An industry dominated by a small number of providers.
When its an industry composed of foreigners we like to call them "cartels."
The consumer - prudent or otherwise - has only the choice to fly or not because all of them are the same. Only strict government regulation keeps the bastards from turning Delta or United into Aeroflot.
What the apologists for capitalism never talk about is that the ultimate offshoot of rampant capitalism is monopoly.
When its an industry composed of foreigners we like to call them "cartels."
The consumer - prudent or otherwise - has only the choice to fly or not because all of them are the same. Only strict government regulation keeps the bastards from turning Delta or United into Aeroflot.
What the apologists for capitalism never talk about is that the ultimate offshoot of rampant capitalism is monopoly.
