Comments by "LancesArmorStriking" (@LancesArmorStriking) on "Here's Why I'm NOT a Libertarian" video.
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Austin Martín Hernández
Nope. Economics 101 will teach you about products with inelastic demand. When companies get the chance, they monopolize their industry, or turn into an oligarchical cartel.
Case in point, AT&T, Comcast, Charter, and Time Warner have spent millions snuffing out efforts to create local, mesh-based Internet connections.
They're significantly cheaper (because these companies overcharge— what competition? They just sue or bury the local ordinance in legal fees and paperwork), yet there are few of them in the U.S., despite high demand.
The free market doesn't work. It's a concept— good in theory, not in practice.
Let's not forget Martin Shkreli shooting insulin prices through the roof, to $800+. People can't just shop around for a substance that literally keeps them alive, especially if they're poor.
The free market doesn't work.
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