The Apple E-Book Ruling and Antitrust Absurdity

A recent ruling against Apple over its e-book pricing policies highlights the absurdity of antitrust laws, as I point out in the Daily Caller:

Under American anti-trust laws, there are three things no business should ever do. They are as follows: Charge higher prices than your competitors, charge lower prices than your competitors, and charge the same price as your competitors.

Higher prices mean that you have market power, and you are abusing it. Lower prices mean that you are trying to unfairly undercut your competition. And if you charge the same price as your competitors, that means you are colluding with them (although in economics, it can also be evidence of near-perfect competition).

It goes downhill from there. Read the whole thing here.