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Market tyranny?

Tweet [1]

For Joel Waldfogel, the glass always seems to be half-empty [2]. In the latest episode of EconTalk [3], I suggest it’s half full. He argues that fixed costs reduce choices and can cause you to be punished by people with preferences that are different from yours. I argue that most of the time, other people’s preferences are irrelevant and that when they’re not, the market finds alternative ways to make us happy.