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Indeed, why would Apple want to eliminate that fee? But also, how is this rent seeking? Rent seeking is defined as attempting to take a larger share of existi
by dpark 8y ago
Indeed, why would Apple want to eliminate that fee?
But also, how is this rent seeking? Rent seeking is defined as attempting to take a larger share of existing wealth without increasing total wealth. Electronic payment systems absolutely add to total wealth.
- weberc2 8y agoI'm not one to cry foul every time a company turns a profit, but this industry seems pretty anticompetitive if it's not outright rent seeking.