Saturday, October 18, 2014

Helping industries

Here's a very nice piece of righteous indignation from Dean Baker about Airbnb and related sharing services. Like Baker, I have read my Adam and believe in mutually beneficial exchange as the cornerstone of a modern economy. But even Adam thought trade should occur within a structure of rules, and it seems reasonable that everyone should follow the same rules when operating in the same markets. His little analogy about Sovaldi allows him to ride one of his favorite hobbyhorses once again, but it has a particularly nice sting in this context.

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