this post was submitted on 06 Sep 2023
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A small wrinkle, industries seem to have little issue with acting collectively to spend cash on enacting policies that benefit those industries. For example, the oil industry has successfully blocked climate change action for decades even after they knew an action was needed. Perhaps they're not as powerful as Standard Oil but they surely are powerful enough to profit maximize at the expense of so much else.
Put differently, if the breakup of monopolistic industries in the first half of last century produced a virtuous cycle, which supposes some durability, why do we find ourselves with virtually the same problem today?
I think the best analogy is to cybersecurity. What’s the point of patching devices when they’re inevitably going to be hacked again in the future? Because they’ll also be patched again afterwards. Security is a dynamic equilibrium, not a static one. Similarly, no fix to corrupt corporate power is permanent. We need constant vigilance.
Also, it’s been a hundred years, and tech is a new sector that didn’t exist 100 years ago. Breaking up Standard Oil isn’t going to help with Apple and Google.
I think the idea is to break up google and apple ;)