Mangled Thoughts

Barnaby Joyce is backing legislation guaranteed to damage companies further.

He wants to criminalise what he calls ‘unconscionable conduct’.

The assumption is the fiction of perfect competition, with a competitive market defined as concentration. He claims large companies excerise power that damages other businesses. This is rubbish.

The ACCC is trying to acquire powers to break up companies. The justification is, some companies enjoy monopolistic dominance. Monopoly does not exist in free markets, they can only be imposed by central government. The measures Joyce supports will deliver great, lawless scope to the ACCC to break up companies.

Scale and numbers of firms in markets is decided by market process, yielding efficient production, and this means reduction of prices, and this is what Joyce objects to. So, Joyce whishes to damage production, continuing investment, and ultimately consumers in order to engage what the real aim is, protectionism for failures. This is what he means by “fair pricing”.

As it is, the ACCC has broken up a trucking firm, stiffing it with multi-million dollar fine. It is trying to do the same to the major retailers, and oil companies.

Begg renounced the fiction of perfect competition when the true force of it dawned upon him, the destruction of companies. And, here we hav e Barnaby Joyce, of the Nationalist Pary and his fellow bush fascists demanding that it be done to companies in Australia. Needless to say, the brainless “Right” don’t have a clue and why should they. Under Peter Costello, they increased the police state powers of the ACCC.

I’ll leave it at this, until the Hansard transcript is up, and then Senator Barnaby Joyce can be damned with his own words.