What has been the impact of eBay on our previous understanding of economics and market forces?

Question

Also feel free to intelligently comment on eBay's impact on American and global business generally. Thanks in advance.

Answer 1

It has completely killed the assumption that all markets are geographically defined. One very good aspect of this is in the world of collectibles: used to be, one went to the local estate sales and flea markets, and perhaps once in awhile found something while on vacation. Now a person who loves old western memorabilia (and Luis L'Amour books) can live in Amsterdam! It has changed many other factors, too, of course, but the collectibles market is the one with which I am familiar. I will be looking to see other answers.

Answer 2

During the ceiling talks, Boehner stormed out, Mcconnell couldn't understand why taxes were even on the table and both republicans and Tea Party preferred a credit downgrade than actually pay a bill. It's safe to say Liberals understand when a bill has to be paid. Republicans call that wealth redistribution. If that's the case my "wealth" gets redistributed to my mortgage company every month. But I don't think they'd appreciate if I told them I can spend my money better than they can. Sure I could use the money for something else instead while the interest and arrears accumulate until I get kicked out. Then hold a "debt ceiling talk" while my credit rating takes a hit. That's economics. Money is scarce and it can be used for either one thing or the other. Not both. That's the classic "guns versus butter" theory. And it works. See a liberal does understand economics.