The free market doesn’t stay free for very long without Government intervention because none of the players in said market want to participate in a free market. They want to gain control of everything and milk it for every dollar of surplus.
This wasn’t a natural push to a monopoly though. Visa used their size and leverage to force end users to use their debit network and squeeze out the competition. They’d charge higher fees on companies who didn’t use their services. So I disagree, this isn’t a natural monopoly.
We’re talking about what can be proven, and the DoJ seems to think they can prove Visa drove the market this way. You’re talking about a hypothetical market where Visa didn’t do what they did, which is irrelevant.
The free market doesn’t stay free for very long without Government intervention because none of the players in said market want to participate in a free market. They want to gain control of everything and milk it for every dollar of surplus.
In this case, there are markets that will naturally push towards a monopoly.
This wasn’t a natural push to a monopoly though. Visa used their size and leverage to force end users to use their debit network and squeeze out the competition. They’d charge higher fees on companies who didn’t use their services. So I disagree, this isn’t a natural monopoly.
While Visa may have done some unethical things to become the monopoly, the industry would have naturally gone that way no matter what.
We’re talking about what can be proven, and the DoJ seems to think they can prove Visa drove the market this way. You’re talking about a hypothetical market where Visa didn’t do what they did, which is irrelevant.
💯