Monopolies is the wrong word. The correct word is “trust”. Monopolies are just one kind of trust, and any kind of trust, even weak ones, are a deadly cancer to a free market.
No, that’s completely meaningless as a working definition, and also just broadly false.
Monopolistic companies often rank high in public polls of ‘most hated / least trusted’ companies.
Monopolies are more accurately described as using and abusing trust, by building up a reputation, and then betraying that trusted reputation once they’ve grown to become actual monopolies.
Enshittification can basically be described as the latter half of that process.
A trust, in the legal sense, implies control and steering. It can be one company (a monopoly) or multiple companies colluding directly or indirectly (oligopoly). These days, the term tends to encompass all manner of anticompetitive practices.
Monopolies is the wrong word. The correct word is “trust”. Monopolies are just one kind of trust, and any kind of trust, even weak ones, are a deadly cancer to a free market.
No, that’s completely meaningless as a working definition, and also just broadly false.
Monopolistic companies often rank high in public polls of ‘most hated / least trusted’ companies.
Monopolies are more accurately described as using and abusing trust, by building up a reputation, and then betraying that trusted reputation once they’ve grown to become actual monopolies.
Enshittification can basically be described as the latter half of that process.
Its a slow motion bait and switch.
Wikipedia: Trusts (law)
A trust, in the legal sense, implies control and steering. It can be one company (a monopoly) or multiple companies colluding directly or indirectly (oligopoly). These days, the term tends to encompass all manner of anticompetitive practices.