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Supply and Demand has to largely take into effect the impacts of marketing. And, not shockingly, we go out of our way to not directly use supply/demand in some
by taeric 2y ago
Supply and Demand has to largely take into effect the impacts of marketing. And, not shockingly, we go out of our way to not directly use supply/demand in some markets. (In particular, I'm looking at concert tickets. Scalping is a direct consequence of this law, yet we go through great efforts to reduce its impact.)
Gravity, of course, is still one of the most mysterious forces/properties of nature. Such that I'm not really clear how trying to pull that one in is anything other than sophistry?
To the point of this subthread, I'm not clear what your aim is. I was pushing back on the idea that public academics don't know what they are talking about. They can, of course, be wrong. But so can largely anonymous actors online.
I think there is almost certainly a useful model that can explain why some people are more trusted than others. My assertion is that you will have to bring in aspects of what we call marketing. Along with a general awareness of who is driving criticism. But, specifically, relying only on having a history of pure success is easy to disprove. For an easy example, Newton was a failed alchemist, just like every other alchemist. I'm guessing you don't view him as a failure.
- WalterBright 2y agoI was taught in college that when a result defies the laws of physics, you did something wrong. It isn't necessary to know exactly what went wrong, but there's a mistake there. When someone asserts that the Law of Supply & Demand doesn't apply, they are wrong. I've pointed out the particular error many times to people who asserted such things. A typical one is rent control. Another is laws against price gouging. A corollary is TANSTAAFL - There ain't no such thing as a free lunch. You can bank on it. You'd be justified in assuming I'm arrogant about this. I am. But I have an awful lot of experience with it. > Such that I'm not really clear how trying to pull that one in is anything other than sophistry? Look into predictions Einstein made about gravity. Not only was he correct, he was as correct as measurements could measure it. All attempts at finding exceptions to it have failed.
- taeric 2y agoWhere is the assertion that supply and demand doesn't apply coming from? Because... I never made that assertion. I said it is a funny one because we actively dampen it's impact on some cases. And in still others, if you have no marketing, no amount of supply will meet demand. But the concepts are clearly still there. And sure, Einstein was Einstein. Now it is sophistry with an appeal to authority? You seem to be shadow boxing claims I'm not aware of? Are these claims of Krugman? Just further up thread than where I jumped in?