Why it takes longer to travel to the United States: The DONG-A ILBO
Global tech giant Google has come under fire in the South Korean market for withdrawing from the free cloud service that had been provided to domestic universities. The pullout came just two years after the policy was launched, during which South Korean students voluntarily uploaded a massive amount of coursework and academic material. The big universities in South Korea have been racking their brains to find solutions by deleting the Google accounts of graduates and faculty members who are not on the payroll, for example. While some may point out that there is no such thing as a free meal, the controversy shows how Google’s overwhelming governance affects our daily lives.
This book highlights how monopolies in the United States, the main capitalist nation, affect individual citizens. The author, as an expert on the scoping report, studies various stories of victims of monopolies in various fields such as aerospace, media, telecommunications, pharmacy, finance and medicine as if he were searching the waters with a net. For example, as only four major carriers (United Airlines, American Airlines, Delta Airlines and Southwest Airlines) cover more than 80% of the US commercial aircraft market, the number of direct routes has declined while routes through Chicago’s hub airports. , Atlanta, etc. have increased a lot. This is because carriers can cut costs when they use hub airports with enough staff and equipment ready for them. However, this has caused travelers the inconvenience of flying longer than in the past. The book describes stories of students who were left to do their homework in a Starbuck parking lot when the US telecom giants fail to provide internet networks to small, sparsely populated towns.
Although the Sherman Antitrust Act is in place in the United States to contain the monopoly of the market, the author argues that the United States government has laxly enforced the law since the Reagan administration. Robert H. Bork, former professor at Yale Law School, provides a philosophical basis for the effects of monopoly by arguing that a monopolized market can increase consumer benefits (consumer welfare) in terms of price and service. It might seem logical if you remember the cutting edge technologies invented and provided by Google, Apple, Samsung, and other behemoths.
However, the author tells you not to fall for his reasoning. Northeastern University economics professor John Kwoka says 38 of the 46 business mergers Washington approved have pushed up retail prices. In addition, statistics show that the incomes of workers in monopoly companies have declined over time. Quoting Warren Buffett, CEO of Berkshire Hathaway, telling investors that he advises managers to widen a ditch – or monopolized area – every year, the author concludes that the government and citizens should stand up against them. greedy monopolists.
Sang-Un Kim [email protected]