It’s likely regulation is a too-high barrier of entry for foreign products, and it’s also likely regulation was steered by lobbying from the currently dominant vendor.
Capitalism that has defects introduced via regulation is sort of like Communism that has defects introduced by authoritarians: the actual version that gets implemented.
Sensing an opportunity, a private equity group called American Industrial Partners (AIP) began to roll up the industry.
> As usual, things are the way they are because of unregulated capitalism and private equity being allowed to do whatever they hell they want.
This is exactly what happened - and why. Capitalism is a healthy system where it is a healthy system. Beyond that, capitalism is either: Beneficial thru flexible, effective governance. Or not beneficial. That's every possibility.
Exploitive manipulation of the firetruck market lies outside of the healthy-by-default area of capitalism.
I don’t get why municipal investment isn’t more of a thing - why can’t cities and counties be their own PE, buy a small fire truck company and turn it into a non-profit? If they captured the surplus that’s going to the PE company surely costs would be cheaper?
I guess that’s socialism though, so not gonna happen.
So society would actually NOT be more efficient if another company developed a slightly cheaper fire truck because there isn’t enough gluttony to make it worth it?
> Sensing an opportunity, a private equity group called American Industrial Partners (AIP) began to roll up the industry.
As usual, things are the way they are because of unchecked capitalism and private equity being allowed to do whatever they hell they want.