janalsncm
9 hours ago
It’s a bad sign for a market when certain players’ profits are growing unconstrained. It suggests something is very wrong with a market. I believe the government’s role is at a minimum to correct for market failures and inefficiencies.
Intuitively, a healthy market should prevent this kind of price gouging because there’s a strong incentive for new players to undercut incumbents. I can’t charge too much for gas because the station across the street will undercut me. If prices are growing that isn’t necessarily a bad sign. But we have seen several areas, like rent prices, eggs, meat, and oil, where profits grew unconstrained. And that’s a strong indicator that something is wrong.
Lena Khan is very sharp and seems to be cracking down on this kind of thing. I just hope she is able to continue.
JohnMakin
8 hours ago
> I believe the government’s role is at a minimum to correct for market failures and inefficiencies.
Much, maybe even half of the country does not believe this though. Until that changes nothing will.
late edit: I personally believe this, but I’ve lost faith in this government’s ability to do this role without extreme corruption, so meh. No idea what to do really.
RedAuburn
6 hours ago
the alternative to "the free market" is a planned economy.
maest
4 hours ago
This is what's called a "false dichotomy"
OutOfHere
6 hours ago
Well, we have neither a free market nor a planned economy. We have a protected industry.
janalsncm
an hour ago
“Free” market is a bad term. The options are regulated and unregulated. If you don’t regulate at all, you get monopolies and your market isn’t any more “free”.