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by chrisseaton
1309 days ago
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Going to a concert is a pure luxury. It's like getting excited that Champagne is too expensive - not really a working person's problem, and I'm not sure pure luxuries need government intervention in the same way as communication systems do. |
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There are some services which are obviously utilities where monopolies are either bad, or must be otherwise regulated. Power, fuel, healthcare, education - all these fit into that. I guess these are services where inefficient pricing has a broader effect on the market.
Whereas in luxuries, if the price is too high, then it has no real effect other than the peasants don't get to eat the cake.
So my two arguments against your position:
1. Even a monopoly in such a luxury industry is still protected by the law, and so must also be subject to it. Assumedly, as a peasant unable to afford Taylor Swift tickets, I am still not allowed to hack Ticketmaster's servers to get one illegally, or to break into the concert by force even though I'm causing no harm since it's a luxury good.
2. Ticketmaster's profits from its monopoly, if unchecked, allow it to crowd out other parts of the market. It can start to buy local pubs that show music, and extend its monopoly there too. Where do we stop it, and say "that's not a luxury market, so you can't have a monopoly there"?