#competition

prplcdclnw@diasp.eu

Pluralistic: You can't shop your way out of a monopoly (05 Mar 2024)

https://pluralistic.net/2024/03/05/the-map-is-not-the-territory/#apor-locksmith

We want to be able to vote with our wallets, because it's so much faster and more convenient than voting with our ballots. But the vote-with-your-wallet election is rigged for the people with the thickest wallets. Try as hard as you'd like, you just can't shop your way out of a monopoly – that's like trying to recycle your way out of the climate emergency. Systemic problems need systemic solutions – not individual ones.

#cory #doctorow #cory-doctorow #monopoly #competition #democracy #freedom #liberty

anonymiss@despora.de

#Amazon Used Secret ‘Project Nessie’ #Algorithm to Raise #Prices

source: https://www.forbes.com/sites/willskipworth/2023/10/03/amazon-allegedly-used-secret-algorithm-to-raise-prices-on-consumers-ftc-lawsuit-reveals/

The algorithm was able to track how much Amazon’s power in the e-commerce field would get competitors to move their prices, and in instances in which competitors didn’t move their prices, the algorithm would return Amazon’s prices back down, according to the Journal.

(I don't link to the original source the "Wall Street Journal" because of the paywall.)

Amazon is #neoliberalism in its final stage. It is no longer about manufacturing #costs and fair prices, but only about how to eliminate the #competition with low prices or how high you can rip off your own customers.


#economy #fail #customer #price #online #marketplace #internet #scam #crime #ftc #news #technology #business