Re: Nice try Tim
"Capitalism is supposed to be about a constant churn of creative destruction and fierce competition"
No, that's markets, not capitalism.
"I don't think Adam Smith would back your arguments."
Interesting, because that's what much of Wealth of Nations is about, the way in which markets temper capitalism.
"Yet your assumption seems to be that tech is a special case where global economies of scale lead to inevitable monopoly or oligopoly and that we should simply accept it."
Not inevitable, although exploring the manner in which global economies of scale might exist in tech is pretty much 50% of what Krugman got his Nobel for.
"Please read Jaron Lanier and come back with a proper capitalist analysis rather than an ode to rent-seeking."
I've read as much of Lanier as I can stomach I'm afraid. Given that he doesn't seem to have the first clue about either markets or capitalism.
Biting the hand that feeds IT
