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> most capitalists would not want price fixing I would strongly challenge this. Capitalism is generally oriented around maximizing profit. Any time you can sel
by try_the_bass 4y ago
> most capitalists would not want price fixing
I would strongly challenge this. Capitalism is generally oriented around maximizing profit. Any time you can sell a good for more than its cost of production, you make a profit. Competitors, when not prevented by things like IP laws, can undercut prices within that gap and take your market share, provided they have a similar cost of production. The "profit gap" can be exploited.
Price fixing "fixes" that bug, and is a net positive over the alternative of racing to the bottom. Better yet, you can use price fixing to arbitrarily increase that gap, which is exactly what TFA is about.