Friday, 18 March 2011

One advantage of competition is .....

it makes consumers better off by lowering the prices they pay. Obvious really. Well not if you are a member of the Metro-DC Democratic Socialists of America's steering committee. Mark Perry at the Carpe Diem blog gives us this example of socialist economic thing. The quote comes from the editorial "Walmart's Arrival a Bad Deal for District," which appears in the current edition of the Dupont Current (p. 11), a neighborhood paper in Washington, D.C.

So we force consumers (workers) to pay higher prices than they otherwise would by stopping Walmart from introducing competition into the local area. And this helps workers how?

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