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Robert Reich: Why your cable bill is so high

If you’re like most Americans, you have wondered at some point – probably monthly – why your cable bill is so high. And for good reason. The average cable bill in the United States rose 5% in 2012, the latest year available. That’s nearly triple the rate of inflation. And that elevated expense gets you some of the slowest service in the developed world.

What about airfare?Average domestic airfare rose 2.5% last year to $391. That’s the highest level since the government began tracking the data in 1995.

Gas prices, meanwhile, are down nearly thirty percent or about a dollar a gallon since last year.

So why do prices in some industries seem to remain stubbornly high despite market forces that would seem to demand otherwise?

In an interview with Yahoo Finance Editor-in-Chief Andy Serwer before a live audience at LiveTalksLA, noted economist and former Labor Secretary under...


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