Meanwhile, many struggling homeowners had their mortgage payments reduced by lengthening their loans or reducing interest rates-not by reducing principal to realign their debt with home values.
Protectionism inhibits, it prevents us from realizing our economic potential. It is a distortion and it leads to inefficiencies and we all are losers when it is employed…
Unfortunately, the result has not been competition to beat down prices and boost speeds, but cosy duopolies that keep bandwidth scarce and carve the market up between incumbents.
As Abernathy's study of automobile manufacturers has shown, an industry can easily become prisoner of its own investments in cost-cutting techniques, reducing its ability to develop new products.