APEC 2024 Peru. Biden shafted to a corner in the back row. Xi in front row next to Peru's President
10/06/2009
Myth 212 - Free competition is good
Over the years we have been creating a few fictional warlords to compete with each other for monopolistic businesses and we claimed that they are good. Competition means better quality, efficiency and competitive pricing. Then some quietly merged again, probably realising that it was all a hoax.
Now we have two out of three media/entertainment providers competing with each other to see who can pay more to acquire rights to entertain the consumers. And all must be doing it for the good of their consumers. The consumers can expect better quality programmes at lower or more competitive cost.
Now, would the programmes be better now that Singtel had almost double the bid price to acquire the rights for EPL etc? Would the consumers be paying more or lesser after this great and free competition? Someone was shouting 'Singapore Premium ah!' behind my back.
It is so easy to make money from Singapore. No problem actually when we have so much money to spend, OPM.
All roads leading to Rome.
ReplyDeleteIn Spore,all roads leading to one residence.
It's all creative competition, like creative accounting. Sometimes hor, you don't know if it is the right hand bidding against the left to give the impression of demand.
ReplyDeleteIn the old days, we have so many bus companies competing. Bus fares were very low. Then they say, no good, must all merge. Then, now there are only two 'so called competing bus companies', but who controls them?
In the old days hor, we also have many trade unions representing so many groups of workers. They really fight for the workers they represented. Then they say, no good, must all come under one Trade Union. Now, only one, but who controls it? Then hor, now the Trade Union also fight more garang for the employers leh, instead of looking after the workers.
All the Created Myths are just MYTHS!
ReplyDeleteBUT, they are giving us HELL!
Anon 06, 2009 2:01 PM says it all.
patriot
If you don't like it, get the hell out !!! Stop bitching all the time.
ReplyDeleteoh dear, someone in heat. whoever is in heat, better to get out and cool it huh?
ReplyDeleteMata Diri says;
ReplyDelete'qi si giam bo siong' in Hokkien means getting oneself irritated(by others) and angered to death is stupid as others do not get to know the cause of death.
Friend, take redbean's advice and cool yourself with a tiger.
I don't like it, but why should I leave? I just want to give high blood pressure to some people leh. Give them more room? Over my dead body!
ReplyDeleteRedbean is mistaken. This is not "free competition". It is a govt created/protected cartel giving the illusion of free competition.
ReplyDeleteThe true definition of this is mercantilism -- corporate welfare for big companies, protected from any real competition by the state.
Generally speaking, there is very little free competition in today's interfered and protected markets. The govt puts up regulations, licensing, quotas etc. -- essentially creating artificial barriers to entry.
For e.g. in the case of media corporations -- the license fees alone ensure that only those who can afford it can play the high stakes game.
When there is no true free competition, it is easy for the big players in the govt created/protected cartel) to fleece customers, because there is really no free choice for customers in the market.
P.S. Free competition is good. However there are only very few markets left which are truly "free".
ReplyDeletecan i have my own 'queer' definition for free competition? and i say it is free competition then it is free competition. at least in my blog that i have control: )
ReplyDeleteThere are phantom competitors and there are faked free markets.
ReplyDeletepatriot
redbean:
ReplyDelete> can i have my own 'queer' definition for free competition? <
Knock yourself out!
However if we are to have a proper discussion it is important to agree on definitions of relevant concepts. Otherwise it is chicken talking to duck ;)
> at least in my blog that i have control: ) <
Like I said... knock yourself out _^^_
ya man. when one is the master of a well and calling the shot, one can dictate anything as one wishes, even saying black is white or white it black. demanding that one's definition is the most reasonable definition is the easiest thing to do.
ReplyDeletewhen i say it is right, it is right : )