patrick.net

They are priced 20 times what they cost to produce, and they cost way too much to produce. A pair of glasses excluding the lenses, which is essentially just plastic molded in a shape, costs as much as a miracle of technology, a hand-held supercomputer tricorder we call smart phones, that does billions of things. If capitalism is so great, why aren't glasses $1 a pop? This is not an efficient allocation of resources, specifically your dollars. Capitalism is about control, not effeciency or growth or maximum productivity.

www.h7H-_8UkmFU

Oh, and this isn't a government imposed monopoly. So don't even bother trying that excuse.

Luxottica has so much power that when a company didn't play by their rules, they brought them to the brink of destruction then took over that company.

That's exactly what happens with capitalism. This is behavior inherent to capitalism. It is a core property. Free markets and private ownership of property are not intrinsic to capitalism. Often they are not even compatible with capitalism.

Another false principle of capitalism:

By this principle, if a monopoly or other means of driving up prices is used, then the value of a product increases. In other words, something becomes more valuable, not because it does more or a better job, but because someone else can force you to pay more for it. That's just stupid.

#politics #economics