Those who ate humble pie, good for you. Karma Pie is coming hard for those who cheated & lied and lived in pride. How did James O get all that Military Intel? Marines?
There is more to economics than supply and demand, which you may discover as you get deeper into your assigned text. For example, no society can survive if it is constructed in such a way that an elite portion of the population profits from driving the majority into poverty. That's Teddy Roosevelt conservatism.
Teddy Roosevelt’s wasn’t a class conservative. He was a progressive. Incidentally I was part of the teddy roosevelt society in college (we’d have deep philosophical debates at the table under a painting of Roosevelt).
you’ll remember his solution was enhancing the antitrust laws..the enforcement of which is what I suggested. Again, if they aren’t being enforced (or even investigated) that’s on the Biden admin. But we have a remedy for the issue reich raises thats longstanding.
there is nothing in mainstream economics that talks about the survival of societies based on wealth distribution.Ecobomics is concerned with economies except in hard left thinking. Your stripes are showing. They look a little pink. Which is pure comedy gold if the so-called “conservative” actually turns out to be a left of bernie bros socialist.
Your output looks like you’re trolling again…surprise surpriseThat output looks like you're rushing again.
I agree with about this much of what you said…..It definitely does not cover wage inflation based on having to compete with robust unemployment benefits for labor jobs.There is more to economics than supply and demand, which you may discover as you get deeper into your assigned text.
Your output looks like you’re trolling again…surprise surprise
what’s even funnier is you’ve built yourself quite a bit of a logic box again: either you are lost again and showing yourself the stubborn feel, or you really are at a minimum a socialist fellow traveler (yet hilariously claim to be a conservative). You never disappoint. Truly truly funny stuff.
Its not demand outstripping supply though.Screw extra out of customers? Not too sure what their alternative was. Once demand outstrips potential supply, your choices are inflation and shortages.
We've seen some of each. Neither is really good for the company image.
What is a stubborn feel?
Price hikes are a supply and demand issue. That how, by definition, you get them since price is set by the interaction of the supply and demand curve. You don’t see the shortages because the price has adjusted to the new supply or demand (eg steak becomes too expensive for some people so they do without or less). The only other thing which interferes with that is a 3rd party externality like a government policy (rent control which also artificially lowers the supply and creates a shortage) or monopolies (in which the Corp is able to take a monopoly premium by controlling supply and artificially limiting it in the market). What you just said, that it’s not a supply/demand issue, is like a kid adding 2+2=5 and then claiming why it’s wrong is it’s not really an addition issue.Its not demand outstripping supply though.
Gas prices have shot up, but I've never had a problem getting gas, nor has anyone else. So there is & has been easily sufficient supply to meet the existing demand. Oil companies have made bank out of you & me, and also been subsidized to the tune of billions (annually) by you & me.
I can see some areas where it is the case, e.g. cars - forecourts are near empty, and prices are going up on new & used. That makes sense.
The article references staples going up in price and the companies making bank. Excluding an initial rush for a month or so in 2020, there's been no shortages on the shelves generally, i.e. supply has been keeping up with demand. You get something every now & then, but in the main, I have been able to go grocery shopping every week and buy whatever I want. That's not a demand/supply issue, that just a price hikes.
Ps the other big outside force is the value of money. If it declines (due to most often gov intervention…spending or printing) the price rises.Price hikes are a supply and demand issue. That how, by definition, you get them since price is set by the interaction of the supply and demand curve. You don’t see the shortages because the price has adjusted to the new supply or demand (eg steak becomes too expensive for some people so they do without or less). The only other thing which interferes with that is a 3rd party externality like a government policy (rent control which also artificially lowers the supply and creates a shortage) or monopolies (in which the Corp is able to take a monopoly premium by controlling supply and artificially limiting it in the market). What you just said, that it’s not a supply/demand issue, is like a kid adding 2+2=5 and then claiming why it’s wrong is it’s not really an addition issue.
No, costs of production increased, so prices increased, but the latter increased more (greater margin), hence greater profits, because they could. The price increases are driving inflation, and the higher the increase the higher the inflation number.Price hikes are a supply and demand issue. That how, by definition, you get them since price is set by the interaction of the supply and demand curve. You don’t see the shortages because the price has adjusted to the new supply or demand (eg steak becomes too expensive for some people so they do without or less). The only other thing which interferes with that is a 3rd party externality like a government policy (rent control which also artificially lowers the supply and creates a shortage) or monopolies (in which the Corp is able to take a monopoly premium by controlling supply and artificially limiting it in the market). What you just said, that it’s not a supply/demand issue, is like a kid adding 2+2=5 and then claiming why it’s wrong is it’s not really an addition issue.
Its not demand outstripping supply though.
Gas prices have shot up, but I've never had a problem getting gas, nor has anyone else. So there is & has been easily sufficient supply to meet the existing demand. Oil companies have made bank out of you & me, and also been subsidized to the tune of billions (annually) by you & me.
I can see some areas where it is the case, e.g. cars - forecourts are near empty, and prices are going up on new & used. That makes sense.
The article references staples going up in price and the companies making bank. Excluding an initial rush for a month or so in 2020, there's been no shortages on the shelves generally, i.e. supply has been keeping up with demand. You get something every now & then, but in the main, I have been able to go grocery shopping every week and buy whatever I want. That's not a demand/supply issue, that just a price hikes.
I phone typo. It’s another double vowel. You know which.
That's Teddy Roosevelt conservatism.
No, costs of production increased, so prices increased, but the latter increased more (greater margin), hence greater profits, because they could.
Again that’s economic illiteracy at its best. The price is driven by supply and demand outside of a handful of outside interventions like the value of money, exchange rate, government policies and monopolies.No, costs of production increased, so prices increased, but the latter increased more (greater margin), hence greater profits, because they could. The price increases are driving inflation, and the higher the increase the higher the inflation number.
Just limiting it to demand/supply is simplistic. That is true in some cases, i.e. my car example driven by a shortage of chips apparently or production plants closed down in Asia or whatever, but that's not true in every case and not even necessarily true in most cases.
Hmmm….what’s your excuse then? Hahaha!Iphone might excuse your spelling, but not your thinking.