
Originally Posted by
Seran
Supply and demand is a theory, the exact terminology was coined in the 17th situation and has been used to explain the dynamics of a free market. It's not a law, nor is it an immutable force. It's a concept originally intending to explain the natural flow of a market to achieve w balance between supply and the demand which consumes it.
When I point to the 'myth' it's in derision to those who believe a free market has room for illegal actions, unconscionable profiteering, and other anti competitive acts as you've sussed out. A free market is good, and capitalism has made this country the envy of most others due to the strength of our industrial ability and stability of our economy. When corporations act solely in their self interests to the detriment of all else, it can have massive long term detrimental effects which laws have been created to curtail. Profits derived from having a quality product that is in demand isn't the issue. Ensuring you're the only product, retailer, or service by way of destroying competition and then profiteering is the issue.