Thomas Aquinas argued for the concept of a “just price”, but when it comes to concert tickets the correct price is the one determined by the market, says Paul Ormerod

Summer is in full swing, and with it the usual round of festivals and music gigs.

Alongside these, another tradition is emerging. Namely, extensive whingeing and whining about the price of tickets to these events.

Certainly, prices seem to have risen very substantially in the past few years. The Times newspaper gave a good example last weekend. In 2022, Billie Eilish performed for six nights at the O2 arena. The average price for a standing place was £76. This year, she is carrying out exactly the same schedule. The difference is that the same places are on offer at £245.

We might reasonably feel that this is a........

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