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Poll > In A Free Market, A Monoply Couldn't Exist
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#31
Nov 14 2014 09:12pm
stuff like this is exactly why i'm a leftist
i like boardgames
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#32
Nov 14 2014 09:38pm
Quote (PlasmaSnake101 @ Nov 14 2014 10:08pm)
It's rather difficult for Americans to experience monopoly first hand. Even if Schumpeter was wrong, which I don't think so, monopolies still have to behave in a certain manner to maximize profit and maintain such tremendous market power. The study of how monopolies function is pretty well documented, as is their nature to fizzle out.


it's not like de beers had full control of the diamond market for a century or anything
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#33
Nov 14 2014 10:00pm
Quote (duffman316 @ Nov 14 2014 11:38pm)
it's not like de beers had full control of the diamond market for a century or anything


Now the question is how did they obtain and hold onto this monopoly?
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#34
Nov 14 2014 10:34pm
Quote (Gastly @ Nov 14 2014 10:12pm)
stuff like this is exactly why i'm a leftist
i like boardgames


board games are cool
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#35
Nov 14 2014 10:57pm
Quote (cambovenzi @ Nov 14 2014 11:00pm)
Now the question is how did they obtain and hold onto this monopoly?


Probably by having enough armed men in Africa making the slaves dig in the mine.

Economies of scale are equally as likely though.

This post was edited by Skinned on Nov 14 2014 10:57pm
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#36
Nov 15 2014 12:08am
Quote (duffman316 @ Nov 14 2014 07:38pm)
it's not like de beers had full control of the diamond market for a century or anything


This monopoly is probably the weakest example you could cite. The price of diamonds factor in to the quality of life of ordinary people to such a minuscule extent. I'm surprised this is what you bring to me for your smoking gun, your damning evidence against Capitalism.

People can and go their entire lives without ever purchasing a diamond. They're really only good for engagement rings and lady jewelry. The first item is in incredibly low demand, most people only requiring one or two in a lifetime. Most women won't experience misery from a life without diamond necklaces and earrings, and substitutes exist in the form of other gems. In fact, diamond engagement rings are seeing competition from other precious gems.

Did you intentionally bring me the worse possible example? A 100% luxury good with a plethora of substitutes. The conditions in which the De Beers conduct the harvesting of mines is questionable, but the market result of their "monopoly" is laughable.
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#37
Nov 15 2014 02:14am
Quote (PlasmaSnake101 @ Nov 15 2014 01:08am)
This monopoly is probably the weakest example you could cite. The price of diamonds factor in to the quality of life of ordinary people to such a minuscule extent. I'm surprised this is what you bring to me for your smoking gun, your damning evidence against Capitalism.

People can and go their entire lives without ever purchasing a diamond. They're really only good for engagement rings and lady jewelry. The first item is in incredibly low demand, most people only requiring one or two in a lifetime. Most women won't experience misery from a life without diamond necklaces and earrings, and substitutes exist in the form of other gems. In fact, diamond engagement rings are seeing competition from other precious gems.

Did you intentionally bring me the worse possible example? A 100% luxury good with a plethora of substitutes. The conditions in which the De Beers conduct the harvesting of mines is questionable, but the market result of their "monopoly" is laughable.


i'm not opposed to capitalism you idiot -_- ~ or monopolies necessarily

you sad monopolies don't last, i pointed out one that lasted almost a full century

This post was edited by duffman316 on Nov 15 2014 02:15am
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#38
Nov 15 2014 02:19am
Quote (PlasmaSnake101 @ Nov 15 2014 01:08am)
This monopoly is probably the weakest example you could cite. The price of diamonds factor in to the quality of life of ordinary people to such a minuscule extent. I'm surprised this is what you bring to me for your smoking gun, your damning evidence against Capitalism.

People can and go their entire lives without ever purchasing a diamond. They're really only good for engagement rings and lady jewelry. The first item is in incredibly low demand, most people only requiring one or two in a lifetime. Most women won't experience misery from a life without diamond necklaces and earrings, and substitutes exist in the form of other gems. In fact, diamond engagement rings are seeing competition from other precious gems.

Did you intentionally bring me the worse possible example? A 100% luxury good with a plethora of substitutes. The conditions in which the De Beers conduct the harvesting of mines is questionable, but the market result of their "monopoly" is laughable.


I slightly disagree - what is a diamond worth?

2 month wages for a crappy one? who decided that?

its just proof of the age of earth and shiny.

This post was edited by card_sultan on Nov 15 2014 02:19am
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#39
Nov 15 2014 02:54am
Quote (cambovenzi @ Nov 14 2014 10:08pm)
Largely due to massive inflation of the money supply/artificially low interest rates and rampant government intervention in the housing market.
This distorted the market, created a housing bubble, and encouraged, mandated and incentivized risky/bad behavior in specific sectors of the economy.


and who was in Charge of that?

Everyone looks for advice, even the business elite.


blah blah blah , herpy derpy, it was GWB 2

and although he tried with best intentions - the outcome is still painfully obvious.
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#40
Nov 15 2014 03:09am
Quote (card_sultan @ Nov 15 2014 04:54am)
and who was in Charge of that?

Everyone looks for advice, even the business elite.

Numerous politicians from both sides of the aisle and federal reserve members.
As I said the policy started before Bush and had major inroads during the Clinton administration.

Quote
blah blah blah , herpy derpy, it was GWB 2

and although he tried with best intentions - the outcome is still painfully obvious.


Atleast you are honest about your thought process, I suppose.
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