Source: Foundation for Economic Education
by Hope Schumaker
“For all its novelty, the technology industry is not immune to the laws of economics. The principles of competition and the rules of supply and demand still apply, even to the most cutting-edge devices. Efforts to manipulate the market through bureaucratic regulation threaten to stifle both innovation from businesses and the consumer experience. Recent developments in the world of broadband internet offer a case study in the power of competition. Internet access is becoming more affordable because competition between different methods of home internet services are driving down prices.” (11/09/26)