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Pastimes : Austrian Economics, a lens on everyday reality

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To: Don Lloyd who wrote (66)12/14/2001 4:05:07 PM
From: TimF  Read Replies (1) of 445
 
I agree with you on 99.9% of all price gouging complaints, but if there truly is little competition the monopoly producer can hurt the consumer with extraordinarily high prices. Of course in such situations usually competition will emerge unless the company is "protected" by the government, and if it is a government created monopoly then it would be more useful to complain about the government action that is distorting the market instead of just saying "the prices are too high".

Tim
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