Re: Refuting supply-side economics
not_at_top-post
Date: 09/18/04
- Next message: rskiwi: "Re: A COMPLETELY NEW Economic System COMING SOON WORLDWIDE"
- Previous message: The Trucker: "Re: Don't Forget Mises -- and Dump the Third Way!"
- Maybe in reply to: Bodhisattvacat: "Refuting supply-side economics"
- Next in thread: John Griffith: "Re: Refuting supply-side economics"
- Reply: John Griffith: "Re: Refuting supply-side economics"
- Messages sorted by: [ date ] [ thread ]
Date: Sat, 18 Sep 2004 12:32:09 -0500
On 17 Sep 2004 07:08:31 -0700, bc76@midmaine.com (Some Guy) wrote:
>William F Hummel <wfhummel@comcast.net> wrote in message news:<himjk0le4phhh1u86b8f899kedl7eucfvg@4ax.com>...
>> On 15 Sep 2004 20:03:58 -0700, bc76@midmaine.com (Some Guy) wrote:
>>
>> >William F Hummel <wfhummel@comcast.net> wrote in message news:<0bffk09pp7cegf5s15s17b177jsl8g5hpu@4ax.com>...
>>
>> >> Your model of inflation is far too simple. The relation between the
>> >> supply of goods and prices applies only to a true commodities in a
>> >> setting where there is plenty of competition and those in the business
>> >> know what prices the commodities have traded at. That doesn't apply
>> >> to almost everything we buy as consumers, whether goods or services.
>> >>
>> >> For example, if you visit a dentist and pay for a filling, the price
>> >> of fillings doesn't increase. None of the thousands of other dentists
>> >> in town is even aware that you had the service. If you buy a loaf of
>> >> bread at the grocery store, the price of bread doesn't change for the
>> >> same reason.
>> >>
>> >There is definately a time delay there. I agree.
>>
>> What time delay? There is no automatic price increase in a gadget
>> because someone buys it. How much have computer prices increased
>> because of the millions that have been sold?
What absolute garbage !!
Have you ever witnessed an auction ?
Mostly it's the 'intention' to buy which bids the price up.
But even using your words: when one of the 3 cows [or Mbarrels of oil]
is bought, I can see that only 2 are left and I adjust my bid accordingly.
== Chris Glur.
- Next message: rskiwi: "Re: A COMPLETELY NEW Economic System COMING SOON WORLDWIDE"
- Previous message: The Trucker: "Re: Don't Forget Mises -- and Dump the Third Way!"
- Maybe in reply to: Bodhisattvacat: "Refuting supply-side economics"
- Next in thread: John Griffith: "Re: Refuting supply-side economics"
- Reply: John Griffith: "Re: Refuting supply-side economics"
- Messages sorted by: [ date ] [ thread ]
Relevant Pages
|
