The best overall regulation the U. S. could impose is to limit the size of every financial institution so that the possibility of out right failure guides every actor.
Monday, August 26, 2013
Antitrust and creative destruction
The Government is great at putting on an antitrust suit just when the forces of creative destruction are sweeping away the status quo. I disagree with Paul Krugman's assessment in "The Decline of E Empires" that monopolists, especially in the very fluid IT business, are affected by government action in any manner. The Justice department and the European anti monopoly agency is laughably out of it fighting calvary assaults as if the browser wars has anything to do with current fifth generations apps.
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