Christopher Westley writes in today’s Mises Daily:
With my own broken dryer, I could have dipped into savings and bought a new low-end model for about half a grand, but this was an option I wanted to avoid. I could have contacted a repair service, but the cost could have easily reached the price of a new machine.
Both outcomes result from restrictions on market forces that hinder both the supply of dryers and availability of repair. “Energy Star” compliance standards on appliances have increased production costs so as to cartelize this industry while providing only negligible benefits in terms of power efficiency. Meanwhile, labor market interventions, especially on the entry-level side of the market, have reduced the supply of repairmen, thus allowing existing repairmen the ability to claim higher wages than they would otherwise. For people (like myself) who do not live in a big city, evenfinding a repairman can be difficult.