|12-27-2007, 09:48 PM||#1|
Books and more books
Join Date: Mar 2006
Location: White Plains, NY, USA
Device: Nook Color, Itouch, Nokia770, Sony 650, Sony 700(dead), Ebk(given)
$40K to fill an iPod? One third of PCs use LimeWire instead
"Update: I just want to make a quick update in response to some of the more inane comments in the discussion thread, and note that the idea on which this article is premised, i.e. that a thriving gray or black market in a particular commodity is evidence of overpricing (typically from a monopoly or cartel) in the legit market, is pretty uncontroversial in economics when applied to things like drugs and non-union labor.
So I don't really understand where there's a lot to disagree with here, at least from the standpoint of basic arithmetic. I mean, gray and black markets aren't really about morality--they're about simple supply and demand."