this post was submitted on 07 Sep 2023
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The cost of things has detached from what it costs to put the thing in the hand of the consumer, to instead a model of "what is this worth to you".
Under capitalism it's always been the case of"what is this worth to you". The difference is in the past if a company overcharges then a competitor could come along and undercut them (so long as the gap was big enough that it made financial sense).
Unfortunately, monopolies, regulatory/government capture, vertical integration, marketing and cartels have gotten so far out of control that consumers are left with little choice but to suck it up. And most governments in the Anglosphere don't really care.
Yeah we’re reaching the point where it becomes clear that the market can’t bear everyone charging the most the market can bear.
People will pay extra for a luxury. People won’t pay the most they’re willing to pay on a luxury on every luxury they’ve gotten accustomed to at a reasonable price.
I hope you're right, but I've seen a concerning amount of people say "It's only $X, so why not?" so many times that it's eating up a huge percentage of their monthly earnings.