The old joke that asks why there is only one Monopolies Commission may no longer work now the watchdog has rechristened itself the Competition and Markets Authority.
But perhaps it’s no coincidence that the UK’s trustbusters have dropped the word “monopoly” from their name.
Contemporary Britain can seem oddly complacent in the face of declining competition. True, it is not the only country to face the uncomfortable concentrations of market power that new technology and global capital make possible.
Many advanced economies struggle with the “winner takes all” nature of the internet.
Large parts of the UK’s competition mechanism are in any case delegated to Brussels. But even so, the country often contrives to drop the trustbusting ball.
Take the ongoing dispute between Transport for London and Uber over whether the car-booking service should retain its taxi licence.
TfL is up in arms about safety standards. But the real scandal here is the way Uber …