JW on Nostr: Sustained profiteering requires an economic imbalance such as constrained supply or ...
Sustained profiteering requires an economic imbalance such as constrained supply or monopolistic markets.
Covid created supply issues. We also have near monopolies in many goods and services. In the tech sector we have the problem that there are very high costs for new entrants and low to 0 marginal costs for existing players.
Economists should understand this. The difficulty is to develop and implement regulations that identify and correct price gouging.
There also has to be an acceptance that many tech services may be better managed as natural monopolies.
Covid created supply issues. We also have near monopolies in many goods and services. In the tech sector we have the problem that there are very high costs for new entrants and low to 0 marginal costs for existing players.
Economists should understand this. The difficulty is to develop and implement regulations that identify and correct price gouging.
There also has to be an acceptance that many tech services may be better managed as natural monopolies.