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Working backwards: I agree with you that the free-market circumvention of regulation is bad in certain areas, like medical testing and utilities. For Uber, the
by intopieces 11y ago
Working backwards: I agree with you that the free-market circumvention of regulation is bad in certain areas, like medical testing and utilities. For Uber, the threat of regulation (and the ensuing bad publicity - a market force) did inspire it's adaptation for the disabled. That's why I'm not in favor of eliminating any regulation in industries. But anti-trust is (and correct me if I'm wrong) concerned with keeping the market open for the benefit of consumers. If customers choose to buy ebooks for a significant mark-up because they like the way Apple delivers them, I don't see how the price fixing harms the market, especially considering the users were not limited to Apple's service on their own device. (Were there Apple iBooks exclusives at the marked up rate? Is that the problem?)
I understand that Apple violated the letter of the law with the price fixing. But I'm having trouble seeing the actual harm it did to the market. And I'm especially having difficulty feeling "sad" that Apple was able to bundle, into the cost of the ebooks, the potential fines for violating it. Consumers were given a product for a price they deemed fair in a market more competitive than before Apple entered it.
- vertex-four 11y ago> If customers choose to buy ebooks for a significant mark-up because they like the way Apple delivers them, I don't see how the price fixing harms the market From some reading, I think the issue is basically that as a result of Apple's collusion with the publishers, Amazon could no longer sell without significant markup - thus price-fixing. I could be wrong.