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Absolutely. The model is far too simplified to have any real explanatory power. The most basic premise is flawed. Goods and services aren't perfectly complement
by stult 10y ago
Absolutely. The model is far too simplified to have any real explanatory power. The most basic premise is flawed. Goods and services aren't perfectly complementary. I might want a burger from a restaurant, but it's too expensive so I cook one at home. I might want to take a taxi, but it's too expensive so I buy a bike. I might want a lawyer, but it's too expensive so instead I buy a self-help law book. And software increasingly blurs the line between goods and services for a grower percentage of the overall economy.