222: Why We Overpay and How It Leads To Income Inequality

How asymmetric information, price discrimination and the stories we tell ourselves contribute to artificial profits and income inequality. Thanks to CNote for sponsoring today's episode.

• [0:20] Rents, overpayments, and income inequality are all side effects of market distortions
• [8:55] Value-based pricing vs pricing based solely on cost
• [17:13] Pricing is inextricably tied to the stories we tell about ourselves and to others
• [22:30] Consumers need to consider these 4 things when evaluating the cost of goods and services