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by NiceOneBrah 4360 days ago
This argument is pretty disingenuous. Some wealthy individuals were born into very privileged families and some poor people remain poor due to exploitation, but that certainly does not apply universally.

>Highest bidder would work great and allow excellent prioritization if everyone had roughly the same means.

I'm not sure why this system only works well when everyone has the same means. As the article points out, a price increase for a good or service can actually incentivize people to increase supply (people who initially decided to take the night off from driving now decide to work in order to cash in since demand is high). In other industries this can lead to more competition and innovation as well.

1 comments

>Some wealthy individuals were born into very privileged families ... certainly does not apply universally

Sure I agree--like the guy who came up with processing debit transactions in order of dollar-amount instead of in order of transaction-time when calculating overdraft fees.. like that guy probably got a huge bonus for coming up with the scheme, and he probably didn't get the idea from his grandpa's will.