为什么市场经济会出现越来越大的企业，直至其破产，直至其too big to lose?

Greed and Stupidity

The greed narrative leads to the conclusion that government should aggressively restructure the financial sector. The stupidity narrative is suspicious of that sort of radicalism. We’d just be trading the hubris of Wall Street for the hubris of Washington. The stupidity narrative suggests we should preserve the essential market structures, but make them more transparent, straightforward and comprehensible. Instead of rushing off to nationalize the banks, we should nurture and recapitalize what’s left of functioning markets.

Both schools agree on one thing, however. Both believe that banks are too big. Bothnarratives suggest we should return to the day when banks were focused institutions — when savings banks, insurance companies, brokerages and investment banks lived separate lives.

在银行业、汽车行业等等，我们都可以看到一些非常大的企业，大到不能倒闭，这是市场的结果吗？回顾它们的成长历史，一部分是，一部分是政府的门槛。虽说市场奖励优秀，但是当一个优秀企业的管理层变换，或者变得大得无法管理的时候，就会败下来或者缩小规模。GM却一直大着。Google一直大着，windows一直大着。大道政府要告它垄断。如果说windows垄断地位的原因是其技术优势和市场策略，那么市场的垄断结果是因为技术优势造成的，不正是市场的初衷吗：奖励技术领先者。