> Some of us believe that all parties should pay a fair price, the same price for a given product or service. I have some sympathy for that perspective. I mysel

> Some of us believe that all parties should pay a fair price, the same price for a given product or service. I have some sympathy for that perspective. I myself have felt tempted to describe certain prices as ripoffs, saying something like “a bottle of water should not cost $8” while waiting to board a flight at SFO. It’s very natural for us to say things like that. Airports are natural, government-administered monopolies, who then typically auction off the rights for firms to sell to a captive audience with little to no competition. This typically results in unfair and wasteful allocation of resources.