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It’s also in their best interest to set the price so as to maximize their own profits. If switching costs or monopoly power allow them to set a higher price, th

It’s also in their best interest to set the price so as to maximize their own profits. If switching costs or monopoly power allow them to set a higher price, they will do so. Have we learned nothing from a decade of subscription services?

amelius 8mo ago
Nobody said we should allow monopolies?
- fragmede 8mo ago
  Especially Adam Smith. The claims are scattered throughout The Wealth of Nations, but he hated them with specificity. He said they raise prices and lower quality, misallocate capital, and corrupt politics, among other things.