It's unimaginable. It's possibly even un-American. It's...a ban on Black Friday
in the heartland state of Oklahoma.
This according to Slate
's Matt Yglesias. The progressive pundit calls out Oklahoma's "banning" of Black Friday (despite proof
to the contrary) based on a law there stating that retailers must price their merchandise at least 6% above cost. Dubbed the "Unfair Sales Act," the legislation's apparent purpose is to protect smaller businesses from larger ones that, in theory, will price their products below cost until all rival outlets are driven out of the market - and consumers are faced with a monopoly.
But there's a flaw in that thinking, notes Yglesias, namely one of limited imagination. "Real world discounting can serve many other purposes," he writes. "A typical retail discounting strategy involves amazing bargains on a relatively small number of items, with the purpose of the bargain being to get shoppers in the door in the first place."
If indeed typical, it would render Oklahoma's effort to prevent monopolies as ill-considered as the behavior
of certain Black Friday shoppers...