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You're free to experiment with pricing, just not to weasel out of an already closed deal and then increase the price. Markets need some rules to protect the we
by t0mas88 5y ago
You're free to experiment with pricing, just not to weasel out of an already closed deal and then increase the price.
Markets need some rules to protect the weaker players so they all feel like participanting. It's in everyone's interest. If you make it "use whatever force you want if you're the stronger player" the market will be less functional and many players will no longer participate.
The US doesn't have many of the European consumer protection rules. As an alternative everyone uses a credit card to get some of those protections back. The downside is high creditcard fees going to the payment networks and Visa etc getting to decide who can do business and who can't. I personally prefer the other system where the law creates those protections instead.
- legerdemain 5y agoThe Market is a naturally arising phenomenon. Interfering in it by burdening it with regulations to "protect the weaker players" makes it literally more distorted and less functional.
- CogitoCogito 5y agoDo you support the government enforcing business contracts at all? That is after all certainly an artificial distortion of naturally arising markets.
- malermeister 5y agoYou just made a bunch of assertions with no proof to back it up whatsoever. That's not an argument.
- netizen-936824 5y agoThe "weaker players" are individual consumers and they do need protection from corporations that deceive and pollute the environment Its obvious that corporations will put profit above all else including the health of their customers
- legerdemain 5y agoThe job of a company is to make money, not to protect your health. In the case of a doctor's office or hospital, protecting your health is a side effect of making money, because the way they can make money most efficiently is by having you pay them to protect your health. This is an elementary precept of modern economics (Friedman, et al.).
- NoahKAndrews 5y agoThat's exactly why we need governments to keep companies in check.
- legerdemain 5y agoI have trouble parsing this as anything other than a naïve desire to replace actual, time-honed economic policy with whimsical hippie daydreams.
- t0mas88 5y agoEvery market needs rules. Otherwise you could DDoS Amazon and promise to stop in exchange for a 99% discount. In a totally free market that transaction would be the best choice for both. In the real world you go to jail and Amazon keeps their money.