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I disagree that prices are set by supply and demand, generally. .
100% stupid of course. Why does a candy bar cost a dollar and Rolls Royce $500,000?? What not price the Rolls at $1.00???
Right. Adapted, meaning wages went down, people work more at oart time jobs, and some got discouraged and left the workforce.
The miracle of the free markets!
No, that's the miracle of open borders and a flood of low-skill, low wage illegal immigrants.
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
Failing to seal the border has no connection with free markets. That's simply a cynical political ploy to improve the Democrat's chances of winning even if it means destroying the country in the process.
- It has everything to do with free markets.
If you argue that markets should be nationally constrained, then you are admitting that government has a critical role to play in regulating markets.
Sorry, but the free market doesn't require us to open the flood gates to foreign immigrants. Furthermore, we don't have a free market in this country. We have a heavily regulated welfare state. If they got rid of all the social programs, then I might not have so much of an objection to open borders. However, I also want all government sold land to be sold off, including city streets, parks, schools etc. Then no foreigners could be here unless they were specifically invited.
100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders. Who in God's name ever said it was. That's an idiotic strawman if ever there was one. We believe in countries and borders. Are you really too slow to know that. OMG!!!
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
I disagree that prices are set by supply and demand, generally. .
100% stupid of course. Why does a candy bar cost a dollar and Rolls Royce $500,000?? What not price the Rolls at $1.00???
- According to the supply and demand model, if very few people wanted Rolls Royces relative tot heir supply, they would be priced at $1.00.
Do you think Rolls Royce would price one of their cars at $1.00 under any circumstances? Your theory says they would.
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders. Who in God's name ever said it was. That's an idiotic strawman if ever there was one. We believe in countries and borders. Are you really too slow to know that. OMG!!!
//100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders.//
- Right - because libertarians believe that government ought to arm itself heavily and decide who can participate in markets and who can't.
Sounds legit.
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Actually, what you think of as the supply and demand model is a teaching of one specific, mainstream school: the neoclassical school.
What's ironic about your post is that you don't know that. You think that economics is settled, like math, and are unaware that there are different schools of thought - you know a tiny bit about one, no more than any schoolboy does, yet consider yourself in a position to insult others who know more than you do.
That's precious.
I disagree that prices are set by supply and demand, generally. .
100% stupid of course. Why does a candy bar cost a dollar and Rolls Royce $500,000?? What not price the Rolls at $1.00???
- According to the supply and demand model, if very few people wanted Rolls Royces relative tot heir supply, they would be priced at $1.00.
Do you think Rolls Royce would price one of their cars at $1.00 under any circumstances? Your theory says they would.
The supply and demand model says the number of units supplied at that price would be zero. You obviously don't know jack squat about economics.
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders. Who in God's name ever said it was. That's an idiotic strawman if ever there was one. We believe in countries and borders. Are you really too slow to know that. OMG!!!
//100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders.//
- Right - because libertarians believe that government ought to arm itself heavily and decide who can participate in markets and who can't.
Sounds legit.
Any nation has the right to determine who can cross its border. That's what it means to be a nation. It has nothing to do with free markets.
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Actually, what you think of as the supply and demand model is a teaching of one specific, mainstream school: the neoclassical school.
What's ironic about your post is that you don't know that. You think that economics is settled, like math, and are unaware that there are different schools of thought - you know a tiny bit about one, no more than any schoolboy does, yet consider yourself in a position to insult others who know more than you do.
That's precious.
The laws of supply and demand are accepted by all legitimate economists. Only Marxists object to it, but they aren't really economists. They're a bunch of witch doctors.
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Actually, what you think of as the supply and demand model is a teaching of one specific, mainstream school: the neoclassical school.
What's ironic about your post is that you don't know that. You think that economics is settled, like math, and are unaware that there are different schools of thought - you know a tiny bit about one, no more than any schoolboy does, yet consider yourself in a position to insult others who know more than you do.
That's precious.
The laws of supply and demand are accepted by all legitimate economists. Only Marxists object to it, but they aren't really economists. They're a bunch of witch doctors.
100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Edward, you just aren't well-informed enough to act as childishly as you do and come off as anything but a child.
The supply demand model says that prices are set very specifically at the intersection of the supply and demand curves. It's very necessary, for the model to work, that prices be set in exactly that way.
Your extremism doesn't help your argument.
If the equilibrium supply/demand price for something is $1.00, and my markup requires that it sell for $1.04, and I am able to sell as many as I need to make my profit at that price, then the supply-demand model doesn't satisfy its own requirements.
In fact, almost ALL prices are set higher than the equilibrium supply demand price.
Therefore, prices are not set by supply and demand.
They are usually set by average costs (as opposed to marginal costs), and firms adjust quantities in order to maintain pricing (that is, they induce small shortages of their goods to increase the price they can charge for them).
You can cackle and guffaw all you want, but you are in no way knowledgeable enough to discuss this.
No, that's the miracle of open borders and a flood of low-skill, low wage illegal immigrants.
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
Failing to seal the border has no connection with free markets. That's simply a cynical political ploy to improve the Democrat's chances of winning even if it means destroying the country in the process.
- It has everything to do with free markets.
If you argue that markets should be nationally constrained, then you are admitting that government has a critical role to play in regulating markets.
Sorry, but the free market doesn't require us to open the flood gates to foreign immigrants. Furthermore, we don't have a free market in this country. We have a heavily regulated welfare state. If they got rid of all the social programs, then I might not have so much of an objection to open borders. However, I also want all government sold land to be sold off, including city streets, parks, schools etc. Then no foreigners could be here unless they were specifically invited.
"Sorry, but the free market doesn't require us to open the flood gates to foreign immigrants."
- So in a free market, it's okay for government to determine who can participate in the market?
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Actually, what you think of as the supply and demand model is a teaching of one specific, mainstream school: the neoclassical school.
What's ironic about your post is that you don't know that. You think that economics is settled, like math, and are unaware that there are different schools of thought - you know a tiny bit about one, no more than any schoolboy does, yet consider yourself in a position to insult others who know more than you do.
That's precious.
The laws of supply and demand are accepted by all legitimate economists. Only Marxists object to it, but they aren't really economists. They're a bunch of witch doctors.
- What was the last book on economics that you read?
Or have you ever read one?
- But you guys are the ones who wanted free markets, right?
Well, you've got one, and all you do is snivel incessantly about it. "We wan gubmint to build a fence and shoot people. We want gubmint to stop people on the street and check their citizenship. And gubmint - we need to get rid of it".
Y'all are precious. Like Jerry's Kids, only logically impaired.
100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders. Who in God's name ever said it was. That's an idiotic strawman if ever there was one. We believe in countries and borders. Are you really too slow to know that. OMG!!!
//100% stupid liberal gibberish. Yes we want free libertarian markets but that is not the same as wanting open borders.//
- Right - because libertarians believe that government ought to arm itself heavily and decide who can participate in markets and who can't.
Sounds legit.
Any nation has the right to determine who can cross its border. That's what it means to be a nation. It has nothing to do with free markets.
- Oh, so markets are nationalist?
Then they're not really free - they depend on government, correct, to define borders, to arm itself, and to put an armed ring around the market?
That's what makes a market free? Government borders and armaments?
I disagree that prices are set by supply and demand, generally. .
100% stupid of course. Why does a candy bar cost a dollar and Rolls Royce $500,000?? What not price the Rolls at $1.00???
- According to the supply and demand model, if very few people wanted Rolls Royces relative tot heir supply, they would be priced at $1.00.
Do you think Rolls Royce would price one of their cars at $1.00 under any circumstances? Your theory says they would.
The supply and demand model says the number of units supplied at that price would be zero. You obviously don't know jack squat about economics.
- And how do we know that the demand price is $1.00?
A car must first be offered for sale, correct?
What happens to that car, in your view?
What do you think the car manufacturer's response would be if he offered a certain number of cars for sale, and couldn't get the price he wanted for them?
100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??Most prices are administered, that is they are set based in a manufacturer's costs plus a desired markup, which will always be above the price that would be set by supply and demand under perfect competition.
- Edward, you just aren't well-informed enough to act as childishly as you do and come off as anything but a child.
The supply demand model says that prices are set very specifically at the intersection of the supply and demand curves. It's very necessary, for the model to work, that prices be set in exactly that way.
Your extremism doesn't help your argument.
If the equilibrium supply/demand price for something is $1.00, and my markup requires that it sell for $1.04, and I am able to sell as many as I need to make my profit at that price, then the supply-demand model doesn't satisfy its own requirements.
I have no idea what the above is supposed to mean. If the equilibrium price is $1.00 and you are selling for $1.04, then you are going to have a lot of unsold product sitting on your shelves. Your "needs" are irrelevant to what you can sell.
In fact, almost ALL prices are set higher than the equilibrium supply demand price.
Therefore, prices are not set by supply and demand.
Horseshit. Where is the evidence that proves the above? If all the product you have for sale sells, then your price is at or below the equilibrium price. IF it doesn't, then your price is above the equilibrium price. You're claiming that stores always have tons of unsold merchandise on their shelves. That's a prescription for bankruptcy.
They are usually set by average costs (as opposed to marginal costs), and firms adjust quantities in order to maintain pricing (that is, they induce small shortages of their goods to increase the price they can charge for them).
You can cackle and guffaw all you want, but you are in no way knowledgeable enough to discuss this.
No, that's not what they do. They adjust their prices until all the product is sold. If they don't have enough product to meet the demand, they adjust their prices upwards until they start having difficulty clearing their shelves. The cost of the product is totally irrelevant once it's in the vendor's inventory. If the sale price doesn't cover the cost, the vendor discontinues the item.
I'm curious where you learned this dumbfuck-on-the-street economics.
I disagree that prices are set by supply and demand, generally. .
100% stupid of course. Why does a candy bar cost a dollar and Rolls Royce $500,000?? What not price the Rolls at $1.00???
- According to the supply and demand model, if very few people wanted Rolls Royces relative tot heir supply, they would be priced at $1.00.
Do you think Rolls Royce would price one of their cars at $1.00 under any circumstances? Your theory says they would.
The supply and demand model says the number of units supplied at that price would be zero. You obviously don't know jack squat about economics.
- And how do we know that the demand price is $1.00?
A car must first be offered for sale, correct?
What happens to that car, in your view?
What do you think the car manufacturer's response would be if he offered a certain number of cars for sale, and couldn't get the price he wanted for them?
We don't actually know what the equilibrium is except by trial and error. Vendors are continually adjusting their prices to keep their profits as high as possible while keeping their unsold inventory to a minimum. If they have unsold product, they lower their prices. If they can't keep product on the shelf, they raise their prices and possibly also increase production. It's purely a guessing game.
If a guy selling cars can't get his asking price, he lowers his price. Haven't you ever sold a car before?
This guy claims to be an economics guru, but he doesn't believe in the laws of supply and demand? That's like a mathematician not believing in addition and subtraction.100% stupid liberal gibberish of course. The desired markup might always be 10,000%. If the price is set that high demand would be 0. Do you understand??
- Actually, what you think of as the supply and demand model is a teaching of one specific, mainstream school: the neoclassical school.
What's ironic about your post is that you don't know that. You think that economics is settled, like math, and are unaware that there are different schools of thought - you know a tiny bit about one, no more than any schoolboy does, yet consider yourself in a position to insult others who know more than you do.
That's precious.
The laws of supply and demand are accepted by all legitimate economists. Only Marxists object to it, but they aren't really economists. They're a bunch of witch doctors.
- What was the last book on economics that you read?
Or have you ever read one?
I have about a dozen books on economics on my kindle right now, moron.
