President Barack Obama’s proposals this week to deal with the possible adverse effects of oil trading focus on two somewhat separate issues. The first is deliberate manipulation of prices for the benefit of someone in the petroleum industry or for…
When price competition heats up, we pay for it in hidden fees
Most people hate getting nickeled and dimed to death. I am no exception, so when Bank of America, which now holds the mortgage on our house, sent us a letter listing all sorts of fees we would be liable for…
Should government gather and publish data for businesses? Yes
The U.S. Department of Agriculture expects Minnesota farmers to plant 8.7 million acres of corn this year, 7 percent more than in 2011. For the whole nation, it expects a 4 percent increase. However, it expects an 8 percent drop…
Electronics makers and the return of price fixing
Sony, Panasonic, Samsung, LG and other electronics manufacturers recently announced a plan to limit retailers’ discount selling of their products by imposing a unilateral pricing policy. This raises two questions: What are the economics of such actions? And don’t they…