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+--- Thread: The new Ida Tarbell (/thread-4490.html)
The new Ida Tarbell - David Lockmiller - 03-10-2021 12:04 PM
With a single scholarly article, Lina Khan, 29, has reframed decades of monopoly law.
Ida Tarbell, the journalist whose investigation of Standard Oil helped bring about its breakup, wrote this about John D. Rockefeller in 1905:
“It takes time to crush men who are pursuing legitimate trade. But one of Mr. Rockefeller’s most impressive characteristics is patience. … He was like a general who, besieging a city surrounded by fortified hills, views from a balloon the whole great field, and sees how, this point taken, that must fall; this hill reached, that fort is commanded. And nothing was too small: the corner grocery in Browntown, the humble refining still on Oil Creek, the shortest private pipeline. Nothing, for little things grow.”
When Ms. Khan read that, she thought: Jeff Bezos.
Her Yale Law Journal paper argued that monopoly regulators who focus on consumer prices are thinking too short-term. In Ms. Khan’s view, a company like Amazon — one that sells things, competes against others selling things, and owns the platform where the deals are done — has an inherent advantage that undermines fair competition.
“The long-term interests of consumers include product quality, variety and innovation — factors best promoted through both a robust competitive process and open markets,” she wrote.
Note: "views from a balloon" -- Ida was a little behind the times: On December 17, 1903, Wilbur and Orville Wright made four brief flights at Kitty Hawk with their first powered aircraft.
RE: The new Ida Tarbell - David Lockmiller - 03-11-2021 07:18 AM
I hope that everyone appreciated the "Civil War" symbolism of Ida Tarbell's words describing Rockefeller's tactics against free enterprise competitors.
Also to be noted, is the poetry of Ida Tarbell's words describing the devastation wrought upon free enterprise: "Nothing, for little things grow.”
RE: The new Ida Tarbell - Steve - 03-12-2021 01:21 AM
(03-10-2021 12:04 PM)David Lockmiller Wrote: Note: "views from a balloon" -- Ida was a little behind the times: On December 17, 1903, Wilbur and Orville Wright made four brief flights at Kitty Hawk with their first powered aircraft.
The Wright Brothers first public demonstration of their aircraft didn't take place until 1908, three years after Tarbell's statement. They didn't even receive a patent until 1906.
I'm not sure I agree with Khan's assessment of Amazon and comparing it to Standard Oil.
RE: The new Ida Tarbell - David Lockmiller - 03-12-2021 10:39 AM
(03-12-2021 01:21 AM)Steve Wrote:(03-10-2021 12:04 PM)David Lockmiller Wrote: Note: "views from a balloon" -- Ida was a little behind the times: On December 17, 1903, Wilbur and Orville Wright made four brief flights at Kitty Hawk with their first powered aircraft.
The Wright Brothers first public demonstration of their aircraft didn't take place until 1908, three years after Tarbell's statement. They didn't even receive a patent until 1906.
I'm not sure I agree with Khan's assessment of Amazon and comparing it to Standard Oil.
Regarding the Wright Brothers flight date, this is the information top source when I Googled "Wright brothers first flight date":
December 17, 1903
(Source: http://www.nps.gov › wrbr › learn › historyculture › thefirstflight)
Oh, after rereading exactly what you had written, I see now that you are saying that a plane could not have serveilled a battlefield until long after 1908. This is true.
Ida Turbell understood Civil War military strategy and knew of the actual use of observation balloons to gain the competitive advantage of enemy serveillance.
What do you think of her words of poetry describing how Rockefeller left nothing competitive to survive? She wrote: "Nothing, for little things grow.”
As I recall from memory of history, Rockefeller forced "rock bottom" prices for farm products by control of the railroad transportation to market for thousands of farmers.
On the second topic, I agree with Khan's assessment of Amazon and comparing it to Standard Oil as a result of my own personal experience.
I needed to buy something special. Of course, the top Google return was Amazon. I found exactly what I wanted and at a good price. [Note: I did not even look to see what was Amazon's top competitor for this information in my Google results.]
I am not a Google Prime member so I could not take advantage of free shipping unless I purchased another small priced item to reach the threshold for free shipping.
But, then, I got the idea of going to the Company's website and making my purchase from there. I would pay the shipping charge to the Company.
But there was a surprise for me. The Company only sold THROUGH Amazon. I wonder who may have managed to arrange that fortunate financial relationship for Amazon. If the Company says "No" to Amazon's suggestion, what might Rockefeller have done to persuade the Company that "No" was not the right answer?
Ms. Kahn's Yale Law Journal paper argued that monopoly regulators who focus on consumer prices are thinking too short-term. In Ms. Khan’s view, a company like Amazon — one that sells things, competes against others selling things, and owns the platform where the deals are done — has an inherent advantage that undermines fair competition.
I agree with Ms. Kahn!!!