To all my non economic savvy friends. If a few businesses collude together and decide to price fix and artificially raise the price of the good or service they are providing so they will all profit more, maybe even pay their workers a bit more too. How is that any different and more unethical than if someone mandates (points a gun at people) the increase in price of a target good or service in a specific area, with the goal of increasing the amount of money some people have? Is not the later also price fixing and in both scenarios people still have the option to buy or not buy, wouldnt people be more likely to not buy when the prices are higher? So why is price fixing bad when private companies do it, but good when government does it and calls it something like minimum wage? Furthermore, if price fixing is bad on a smaller scale in a specif area, why does it become a better idea the larger area you apply it? (As in state and federal minimum wage laws)
Posted on: Thu, 05 Jun 2014 10:52:46 +0000
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