Michael Powell, head of the FCC, displays the radical hatred of capitalism and progress typical of the FCC.
Technology is changing so quickly that there is no guarantee the nation’s telecommunications giants will still be in business 15 years from now, the chairman of the Federal Communications Commission said yesterday.
“I personally don’t think anybody is safe. I don’t believe any company currently in communications is so well-structured and tied down that they are guaranteed to be here 15 years from now,” Michael K. Powell told editors and reporters at The Washington Times.
Should there be a guarantee Mr. Powell that these companies stay in business? Should the government put a gun to the head of competition in order to ensure that other companies are “so well-structured and tied down that they are guaranteed to be here 15 years from now?”
This I find absurd:
Since taking over the FCC, Mr. Powell has become known as a fierce believer in the power of free markets. But he said yesterday he is “still a huge believer that markets do fail. And there is anticompetitive behavior. I have a basic maxim about that, which is … when you find people cheating, hit them really hard.”
He also said he is wary of media companies becoming too big.
“It’s really breathtaking. I mean, I’m almost to the view that one day there’s going to be serious questions about whether one institution can have such a wide and deep portfolio without some rethinking of how these functions are handled and to what extent and by whom. I don’t think that day’s here, but I do think it will happen, and it will happen faster than people think,” Mr. Powell said.
As history has demonstrated, it is these so-called defenders of capitalism that are really destroying it.
