On the contrary Tom - you clearly do not understand the concept. The
Market is nothing more than a convenient term for the aggregation of
all the individual transactions and interactions under examination.
A company does not own the market in a monopoly, they control or
dominate the resource at the core of the transactions.
By your logic if I invent a widget or widgets and process by which
they are used that grants a new or vastly improved capability and
there by gain a monopoly I am abusing a commons - a commons that did
not exist until I invented it.
Matthew
On Jul 16, 2009, at 1:23 PM, t.piwowar wrote:
On Jul 16, 2009, at 10:34 AM, Jeff Wright wrote:
This is just flat out wrong. No one "owns" a market. You are
expressing
propriety where none exists. How do you own an abstract concept?
I think you have a problem understanding what economists call the
Commons.
http://en.wikipedia.org/wiki/The_commons
Markets are a common good from which we all benefit and which we
must all protect (or suffer the consequences).
When one company essentially owns a market it is called a monopoly
and is an abuse of the Commons.
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