this post was submitted on 22 Sep 2024
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Boy, do I have some bad news for you...
https://www.nbcnews.com/business/business-news/amazon-used-algorithm-essentially-raise-prices-rcna123410
“Essentially” is the load-bearing weasel word here that allows this story to blame Amazon for their competitors choosing to offer the same goods at higher prices.
"Competitors choosing" is usually considered to be price fixing, which is anti-competitive and/or monopolistic. Amazon et al aren't the only US companies guilty of this or other anti-competitive behaviors, even if they're a notable example.
No? It isn’t?
Where do you think prices come from?
How is this anti-competitive?
At least we can all agree that carpos fix prices in the regular course of business once oligopoly is established.
Price fixing is rare because you gain so much by defecting from the cartel.
Well recent bouts of inflation say otherwise but sure you can keep spouting some generic econ 101 slop 🤡
They don’t, in fact.
I trust u bro