In the housing market, there are regulations put in place by NIMBYs to protect their own investments.
Econ 101 includes analyzing the effects of market interference, and in this case its predictions are exactly correct.
Re:A critique of trends in tech
by alistairSH on Friday April 28, 2017 @08:43AM
(#14218909)
...this is real life, not the first chapter of an Econ-101 textbook.
Better?
In the housing market, there are regulations put in place by NIMBYs to protect their own investments. These limit the supply of housing in popular areas, driving up prices. Nothing a rentee can do but pay up or move elsewhere.
In most job markets, the employer has more knowledge (about compensation plackages) and the job-seeker needs a job ASAP to avoid starving.
In the case of Juicero, the toothbrush subscription, etc? Closer to a textbook-pure market, for sure.