Capitalism is in full swing.  Netflix announces that it will drop the monthly fee on its 3-out plan by $1 per month.

The $17.99 monthly plan is reduced to $16.99 and provides unlimited DVD rentals with three DVDs out at a time and the ability to watch 17 hours of movies and TV series instantly on a PC.

Netflix members are not required to do anything to receive the price reduction. Their new lower price will automatically be reflected on their next bill, on or after July 24, 2007