A Lesson from Breaking Mexican Telecom Monopolies

You’ve probably heard of Carlos Slim. He’s the richest man in the world, and he got that way by controlling Mexico’s telecommunications industry. However, he lost $4 billion last week, all because of a new amendment to Mexico’s constitution aimed at tearing apart his monopoly.

What does that have to do with anyone besides Mexicans? According to The Big Picture’s Thom Hartmann, any country suffering through a telecommunications monopoly (or duopoly, or, say, an uncompetitive market) and the poor service and high prices that go along with that ought to learn from Mexico’s example—or Europe’s—and break up the monopoly.

[youtube width=”640″]http://www.youtube.com/watch?v=svCFys_O1GM[/youtube]

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