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Apply this logic to the U.S. health industry. Or privatised essential services in this country. Or the music industry pretty much anywhere.
To the extent these markets fail they fail in quite different ways to delivery, don't they? The market failure in delivery is really an externality problem, i.e. you the consumer are sort of a third party to the bargain between the retailer and the shipper.
NickCJ
itsbruce
Apply this logic to the U.S. health industry. Or privatised essential services in this country. Or the music industry pretty much anywhere. The gap between what the putative end customer would really like or want (if they even had the opportunity to hear about it) and what is convenient for the producer to provide can be huge. The producer normally wins.
I studied economics formally, for a bit (was pursuaded I had other talents). When you're introduced to the concept of the perfect market, one of the first things that you're told is that it doesn't exist.