4 ms·
Except that there are numerous cases where raising price doesn't proportionally drop demand (it can even raise demand), and very well understood reasons for tha
by SomeStupidPoint 9y ago
Except that there are numerous cases where raising price doesn't proportionally drop demand (it can even raise demand), and very well understood reasons for that.
Pretending that it's a "law" of economics we can blindly apply to any situation is absurd.
- hirundo 9y agoI used scare quotes to indicate that it isn't an actual law, which is also why I said that it's weaker than something like F=MA and that economics ain't physics. Then you chose to ignore all of that to accuse me of pretending otherwise. I don't deny that there are exceptions, I just claim that they _are_ exceptions, and that therefore the burden of proof is on the one arguing that a particular case is exceptional.