Re: MD a query about Lila

From: Platt Holden (pholden@sc.rr.com)
Date: Sun Oct 02 2005 - 17:18:52 BST

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    Khaled writes:

    > Well a free market is the only way to do business with that comes a few
    > conditions.
    >
    > 1. No government subsidies, else it's not a free market.

    Agree. But every state must abide by the rule.
     
    > 2. Minimum government interference. For example i should be able to get my
    > drugs from Canada if I find them cheaper there and not be stopped by a law
    > that was pushed thorough by the lobbyist of the drug companies.

    Agree.

    > 3. Fairness, I know that some people are going to call it socialism or
    > communism. Here is the question. if I make a product, and I have been doing
    > well. A new competitor shows up, under a free market competition is good,
    > it make the product better and gives the consumer more choices and better
    > prices. If i have deeper pockets and can afford to sell the product at a
    > cheaper price for a while until they competition goes bankrupt, should I do
    > that? should the government interfere and accuse me of dumping the goods in
    > order to put him out of business? And what if I drive him out of business
    > and then drive me out of business ( Drugs, Gambling, fire, ....) suddenly
    > that product is no longer available, should the people blame the government
    > for not protecting the other guy?
     
    Your hypothetical is faulty. If the competitor makes a better product, it
    will be difficult for you to drive him out of business by lowering the
    price on your inferior product. If your competitor's product is inferior
    to yours, his higher price will soon put him out of business. If both
    products are the same in quality and you drive the competitor out of
    business followed by your own bankruptcy, then a new producer will arise
    if there is enough consumer demand, or the product will die a natural
    death. In any event, the government should not interfere.

    Platt

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