> profit is a reward for providing something people want for a lower price
How do monopolies work with this? If I am a car manufacturer and I buy up all the steel and steel mills, and then jack my prices up, I get more profit, and also am protected from competitors. If there are no power or resource disparities, I could see this working, but at the very least government is (to a much larger extent than the private sector) accountable to people.
How do monopolies work with this? If I am a car manufacturer and I buy up all the steel and steel mills, and then jack my prices up, I get more profit, and also am protected from competitors. If there are no power or resource disparities, I could see this working, but at the very least government is (to a much larger extent than the private sector) accountable to people.