On the occasion of the outcry over the iPhone's $200 price cut, a critic of Daring Fireball claimed
No, there’s more to this issue than people not understanding capitalism.
Indeed. It wasn't just ‘not understanding capitalism’, it was not having even the remotest clue what the proponents of capitalism consider to be their core position and their core arguments. This is not unusual. Many people in our society lack any such clue.
[T]his price drop shows that Apple was making more of a killing than anyone could have possibly imagined, more than anyone could have possibly thought was fair.
I mean, you could probably figure out the raw cost of a pork belly, but an iPhone is a little harder to pin down.
In a sense, this sweeping ignorance is a terrifying state of affairs. In another, a very hopeful one.
