Enclosure

Historically enclosure referred to the feudal appropriation of common land or public goods by a cartel or nobility. In modern terms it refers to the process by which businesses corner a market through predatory capitalism and regulatory capture to ensure they can rent seek in perpetuity. This is often done through undercutting competitors through anti-competitive pricing schemes or subsidizing services by an influx of external capital to drive out competition.

See also market manipulation, public goods problem and free rider problem.

References

  1. UK Parliament (2021). "Enclosing the Land". London: UK Parliament. Retrieved 14 May 2021.
  2. Varoufakis, Yanis. "Techno-feudalism is taking over." Project Syndicate Op-ed 28 (2021).
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