[ Thanks to Kelly
McNeill for this link. ]
“I was shopping in a local supermarket. What are the common
features of all supermarkets – or all produce markets for that
matter?”
“Would it surprise you if I said it was the fact that most of
their stock-in-trade is common to all supermarkets? Ie, you can buy
potatoes anywhere and they are still potatoes. You might prefer a
particular type of potato for your particular style of cooking, but
those potatoes can be bought at your local supermarket, or another
supermarket if your particular type isn’t stocked.”
“And in consequence, most of their stock-in-trade is low cost?
No monopoly profits for supermarkets. Monopolies are very hard to
set up for supermarkets, and the only place where I know they set
up a monopoly in supermarkets, those supermarkets – in Eastern
Europe and the Soviet Union – were renowned for not having anything
on their shelves.”
“In spite of this lack of a monopoly, people still do make a
living from selling fresh produce. Not from the produce itself, I
might point out, but from all the additional services they
provide.“