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My leisure reading runs mainly to nonfiction, and the year 2016 has been a banner year for one of...
All this discussion about fake news misses the point. Or several points.
Fake news is all the...
The reason monopolies are bad for consumers has long been made by, well, monopolists themselves.
Let a company get exclusive or near-exclusive title to some part of the market, and that company will take advantage of its position to maximize profits.
If this were not true, government would never step in to foster competition.
Little wonder, then, that Amazon, the biggest bookseller of all time, is now profiting from its gargantuan position to raise the prices of its offerings to make more and more money.
To get to where it is now, Amazon kept prices artificially low, bringing in customers so it could grow its market share.
The pricing back then was predatory.
And so it is now with prices rising.
This all should come as a surprise to absolutely no one.
But, today's New York Times carries an article that has a tone of incredulity about Amazon's price-hiking.
Now it is time for government to step in and protect book-buyers from this modern Robber Baron.
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