1536
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 21 Sep 2023
1536 points (91.9% liked)
Memes
45412 readers
772 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
That assumes the consumer has perfect knowledge of a businesses practices and has the resources to vote with their wallet. Businesses are incentivised to conceal any actions that would cause them to lose customers, not stop those actions. They are also incentivised to eliminate competition so consumers don't have a choice but to buy from them regardless of business practices.
This is actually a very good point. I'm not sure that I have a solution for it at the moment. The lazy argument would be that information eventually leaks out, but that is not, in the slightest, a guarantee. I will have to think on that.
This outlines the need for a competitive free market. If a business is making an undesirable decision, then the consumer would have other options to choose from, or a competitor without those practices would enter the market to scoop up those who are disillusioned.
The wilful direct elimination of competition is anti-competitive behavior, and is, therefore, incompatible with a competitive free market, and should thus be prohibited.