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I feel the original thought experiment was not well phrased, and it felt a bit polemic, if not polarizing. I agree, the market will pay what it can bear, and if
by npsimons 13y ago
I feel the original thought experiment was not well phrased, and it felt a bit polemic, if not polarizing. I agree, the market will pay what it can bear, and if Mr. Myne doesn't react to that, the market will stop paying.
But unless Mr. Myne is the only one with the capital to create the machines, I can't see how someone else wouldn't come along and make the machines for what the market will bear. As the saying goes, "demand creates its own supply."