Assuming the will was there, I feel a set of laws set to prevent monopoly/duopoly of ANY industry would be easier and more effective than playing around with price caps though. We had the media ownership laws (brought in by Labor) which were at least somewhat effective, until they were abolished… by the Liberals.
Labor then tried to bring some regulation back and was completely annihilated in the court of public opinion by the same media monopolies they were attempting to regulate which kind of proved how desperately needed regulation is. But Australians are pretty stupid so we all just happily voted Liberal because unions bad.
I dont really like things like price caps.
I’d prefer stricter protections against monopolies (or duopolies) which would naturally lower pricing of everything, not just the few capped items.
Would any elected government be willing/able to do anything about any current monopoly/duopoly we have?
Would any? Probably not.
Assuming the will was there, I feel a set of laws set to prevent monopoly/duopoly of ANY industry would be easier and more effective than playing around with price caps though. We had the media ownership laws (brought in by Labor) which were at least somewhat effective, until they were abolished… by the Liberals.
Labor then tried to bring some regulation back and was completely annihilated in the court of public opinion by the same media monopolies they were attempting to regulate which kind of proved how desperately needed regulation is. But Australians are pretty stupid so we all just happily voted Liberal because unions bad.