November 03, 2011
A Win Is A Win
NP: Bill Bruford's Earthworks, Earthworks
I know the Occupy Wall Street movement is taking credit for Bank of America backing down on their debit card fee, but couldn't you also argue that this is precisely how a free market is supposed to work?
The defense, I suppose, is that Wall Street typically doesn't operate in an actual "free" market -- they've typically been able to do things just like this with impunity and casual disregard for their customers. So if Occupy Wall Street really wants to frame this right, it's a victory for free market capitalism, not the oligarchic bullshit we have had to put up with. Much better optics, in my opinion.
(As an aside, and in the "why do I write this when nobody reads it" department, my initial reaction was the free market part, but only in writing the post did I come around to the "and that's really the point" part of it. Yay process!)
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