Middlemen are a different
story because most of them belong to the active subcategory. This means
that they, on purpose, generate market inconsistencies, inefficiencies
and problems - only to solve them later at a cost extracted and paid to
them, the perpetrators of the problem. Leaving ethical questions aside,
this is a highly wasteful process. Middlemen use privileged information
and access - whereas speculators use information of a more public
nature. Speculators normally work within closely monitored, full
disclosure, transparent markets. Middlemen thrive of disinformation,
misinformation and lack of information. Middlemen monopolize their
information - speculators share it, willingly or not. The more
information becomes available to more users - the greater the
deterioration in the resources consumed by brokers of information. The
same process will likely apply to middlemen of goods and services.
We are likely to witness the death of the car dealer, the classical
retail outlet, the music records shop. For that matter, inventions like
the internet is likely to short-circuit the whole distribution process
in a matter of a few years.
6. The last type of market impeders is well known and is the only one
to have been tackled - with varying degrees of success by governments
and by legislators worldwide.
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