yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Starbucks predatory practices, and 'the will of the people'


2m read
·Nov 8, 2024

Lawton, you made a video about the predatory business practices of Starbucks and asked how this will be dealt with in a free market or how we dealt with in the absence of government regulation.

Specifically, I think that in a free market, some businesses like Starbucks would continue to engage in tactics that would get slammed by some people as predatory and anti-competitive. I think it's important to remember that people currently can choose not to patronize Starbucks. They can choose to avoid it because they disapprove of Starbucks' business practices, and maybe many people do so already.

We don't know exactly how many people are making that kind of choice. The extent to which people feel strongly that businesses should not behave in certain ways will be the extent to which people take the trouble to inform themselves about which businesses are actually behaving that way and then avoid them.

So, in other words, people who feel strongly enough against Starbucks' business practices will have already stopped patronizing Starbucks. They may even be spreading the word about Starbucks' lowdown tactics. Meanwhile, Starbucks is able to perpetrate its so-called predatory practices only to the extent that people prefer to buy coffee at Starbucks than they do at rivals.

So, apparently, on aggregate, people value what Starbucks offers more than they care about and object to Starbucks' predatory business practices. If and when people on aggregate care more about stopping these predatory practices than they do about the value that they currently get from shopping at Starbucks, then Starbucks will not be able to continue in the same way.

Whether we personally disapprove of what Starbucks is doing or not, I think it's important to notice that leaving the market alone gives a situation that does a much better job accurately reflecting the will of the people than having a blanket ban on predatory practices does.

Since the goal of democracy is to have a government that reflects the will of the people, to the extent that we think the market is a good idea — and as an aside, my dog thinks so — to the extent that we do, regulation is redundant in this area because people are already revealing their values in a very direct way by either shopping at Starbucks or by boycotting Starbucks.

More Articles

View All
Making a Live Trap | Live Free or Die
Thorne’s girlfriend Delia’s counting on him to make sure they stay stocked up on meat, but he’s new to trapping and still doesn’t have a handle on the habits of all the wildlife in the area. “Now I’m gonna actually make a live trap. It’s kind of like a p…
Reflecting & compressing functions | Mathematics III | High School Math | Khan Academy
[Voiceover] So we’re told g of x is a transformation of f of x. The graph below shows f of x as a solid blue line. So this is the graph of y is equal to f of x, and the g of x is a dotted red line. So that’s the graph of y is equal to g of x. What is g of…
The 10 BEST Side Hustles - How I Make $10,000 / Month
What’s up, Graham? It’s guys here. So, I’ll be honest; not only have I seen every single side hustle video imaginable on YouTube, but I’ve also tried nearly every single one of those options throughout the last 12 years. And let me tell you, even though …
Polynomial special products: perfect square | Algebra 2 | Khan Academy
What we’re going to do in this video is practice squaring binomials. This is something that we’ve done in the past, but we’re going to do it with slightly more involved expressions. But let’s just start with a little bit of review. If I were to ask you, w…
How to Improve Your Life in 24 HOURS
[Music] If you’ve ever browsed self-improvement forums like on Reddit, then you’ll often come across some pretty good advice, some pretty questionable stuff—no doubt. But every once in a while, there’s a little nugget of wisdom that sticks with you, and …
Boveri-Sutton Chromosome Theory
Let’s give ourselves a reminder of how important Gregor Mendel’s work was. In 1866, he published his findings, and it’s important to realize it wasn’t like immediately in 1866 or 1867 the whole world changed and everyone said, “Oh, Gregor Mendel figured i…