Anand Mahindra Quotes
The market will evolve into two segments: cars that provide ease of access to transport and are shared by many people, and cars that are exclusive, high-end symbols of the owner's status and aspirations.
Mahindra, Anand. Quoted in "The Future of the Automotive Industry." Autocar India, Haymarket SAC, 10 Sept. 2017.
What Mises says in this quotation is true. What he does not say that by the time the automobile was developed and then the airplane, the Railroad monopoly had impeded and destroyed so many different entities that the governments had cracked down and curtailed much of the ability of the Railroads to exercise monopolist power. If the Railroads had as much power in 1920 as they did in 1870, there probably never would have been a thriving auto industry and the airlines would likely never have succeeded. Mises again exaggerates a basic point that large monopolistic companies and industries often have not been able to stave off new technology and approaches. While true in many cases, the cause is not necessarily fundamental to economics but has sometimes (as with the railroads) been caused by Government regulation and reform. A better example is that the large sail dominated shipping industry was not able to stop the coal fired steam engine ships. Indeed the shipping owners embraced the new technology. The best examples of Mises point occurred after Mises died. For example, Microsoft was not able to prevent Google from dominating many of Microsoft’s positions in the IT world.
Anand Gopal Mahindra is an Indian billionaire businessman, and the chairman of Mahindra Group, a Mumbai-based business conglomerate. The group operates in aerospace, agribusiness, aftermarket, automotive, components, construction equipment, defence, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate and retail. Mahindra is the grandson of Jagdish Chandra Mahindra, co-founder of Mahindra & Mahindra.