If there's 30 equivalent services to choose from and using none is also a viable option there's no market power and no issue. I hope they get rich without market power but it's of no significance to me.
As soon as they (for all values of they) have market power and can have a huge effect over what you can and can't do - they need to be bound by law and regulation. This is the textbook definition of market failure. Libertarians and Bernie should see it much the same way. I personally believe you keep regulation the hell out it until you have market failure (so I'm not with bernie) - which this is, they're enacting defacto laws and taxes on the population here for an agenda not agreed to by that population. Same as if standard oil could tell you where you could drive your car. Same as if your electricity company could tell you what you are allowed to read with your electric lights. Same as if your phone company dropped your call for saying "fk" out loud.
Market failure is a thing that happens often (public goods, property rights enforcement, industries that tend to monopoly) and we bring in regulation when it does and watch those regulators closely(!!) We have elections to make sure the regulation is done in a way that we can live with.
If there's 30 equivalent services to choose from and using none is also a viable option there's no market power and no issue. I hope they get rich without market power but it's of no significance to me.
As soon as they (for all values of they) have market power and can have a huge effect over what you can and can't do - they need to be bound by law and regulation. This is the textbook definition of market failure. Libertarians and Bernie should see it much the same way. I personally believe you keep regulation the hell out it until you have market failure (so I'm not with bernie) - which this is, they're enacting defacto laws and taxes on the population here for an agenda not agreed to by that population. Same as if standard oil could tell you where you could drive your car. Same as if your electricity company could tell you what you are allowed to read with your electric lights. Same as if your phone company dropped your call for saying "fk" out loud.
Market failure is a thing that happens often (public goods, property rights enforcement, industries that tend to monopoly) and we bring in regulation when it does and watch those regulators closely(!!) We have elections to make sure the regulation is done in a way that we can live with.