4 ms·
I heard an economist once say that "The best cure for high prices is high prices." i.e. - when prices get that high, new people enter the market and the price d
by gadders 5y ago
I heard an economist once say that "The best cure for high prices is high prices." i.e. - when prices get that high, new people enter the market and the price drops. Or people lower their prices to try and capture market share.
- TMWNN 5y ago>If something cannot go on forever, it will stop. —Herbert Stein, economist
- ceejayoz 5y agoUnless, of course, you've got a monopoly/oligopoly and a bunch of barriers to entry. I'm under little illusion my cell phone bill is ever going to go down.
- titzer 5y agoOf all branches of mathematics, science, and engineering, the only people on Earth stupid enough to believe in perpetual exponential growth are economists.