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Also trading goods, whether at a market or otherwise used to be an equal competition. Nowadays abstract companies use abstract algorithms and massive data sets
by loa_in_ 3y ago
Also trading goods, whether at a market or otherwise used to be an equal competition. Nowadays abstract companies use abstract algorithms and massive data sets of not only sales but also data from other sources like the ads customer ever clicked on or hovered over to optimize the price for maximum profit.
This happens to consumers and intermediaries alike. Prices are maximised as much as they can be while still allowing enough sales to sustain the system. There's no fairness in pricing nor a human element most of the time. It's automatically kicking the customer and patting them on the back at the same time in real time.