On Costco, Defector Media, and the Illusion of -Isms

Economist Writing Every Day

I’m fond of telling my wife that most people wouldn’t call us rich, but sometimes Costco makes me feel like I am. By the standards of the past, including both of our upbringings, the goods that our Costco membership makes accessible to us is something that never ceases to amaze. I’ll look at our cart some months and find myself astonished at the goods we are about to casually purchase. It really goes to show you how far solidarity can take you within a proper union.

Sure, its probably better described as a consumer’s union, but the principals are largely the same and the value of the outcome is undeniable. Consumers rarely find themselves with significant bargaining power. Its not terribly problematic most of the time – competition pulls prices towards a market clearing level and everyone walks away sufficiently happy. But the fact remains that bits get taken out…

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