Why a Monopoly is always a Bad Idea. Ebay, Paypal, and the Continued Suckering of America.
When I had heard of the purchase of Paypal by Ebay, I didn't have my thinking cap on. But now a few years later, I have started to see the effects of the Libertarian philosophy in full swing. I have written before about Ebay and how it cons its buyers into making bad choices that increase its bottom line. I have written how they allow bogus bidding to occur and how they do their darnedest to increase the feverish pitch of the bidding. So, it really comes as no surprise that Paypal, a good company providing a good service now finds itself becoming just as conning as its Papa. Initially, we joined Paypal because it afforded us an ability to pay merchants who did not accept credit cards. It was a godsend to Ebay and bidders appreciated it. Later, some of us came to see that a Paypal account also seemed to add an element of security to our online transactions as we didn't need to keep entering our credit card information. After all, could everyone in the office of the small mer...