Make monopolies fully accountable for their actions by implimenting something similar to the Taylor Law in the US (specifically New York).

In a monopoly market forces fail because there is no alternative to the customer.  Therefore the customer needs to be protected from the monopoly refusing to provide the service it is contractually abliged to do.

A good example is the Underground in London. I dont care why they are not providing a service on certain days (and that INCLUDES strikes). I care how much money it has cost me because they havent provided that service.

They need to be open to compensation payemnts and not be able to refuse on the grounds that there was a strike – that is their problem.

I would look at extending this to non-monopolies as well. Its about time BA for example fully compensation people and businesses for withdrawing their service. 

Why is this idea important?

To stop unions and companies holding customers to ransom.

Leave a Reply

Your email address will not be published.