Some time ago, in a Facebook argument, I encountered someone who repeated the old “exchange of unequals” argument (i.e., that people never exchange equivalents because each party values what they got more than what they traded for it). I responded that this argument confuses exchange value with use value and that, regardless of subjective valuation,…

Robert Reich contends that “Big Tech Has Become Way Too Powerful” (New York Times, September 20) — and so, to curb its power, big government must become way more powerful. Amazon, Apple, Facebook and Google, like the railroad and oil trusts of the Gilded Age, are to Reich the natural result of market consolidation. Retelling the civics-textbook story of…