A guy walks into a bar, sits at a table and orders a beer.
He then proceeds to pull out hundreds of pink valentine’s day cards, write inside them and stamp them with “Love” stamps. He then pulls out a bottle of expensive perfume and spritzes each envelope. The bartender finally can’t contain his curiosity and approaches the man. “You must have 500 or more cards there,” the bartender says. “I’ve got to admit I’m curious what you’re doing.” “Oh, every year at Valentine’s Day I send out 500 cards, each one signed ‘Guess Who?’” the guy says. “But why?” the bartender asks. “I’m a divorce lawyer,” the guy replies.
I don’t think this is how efficient markets are supposed to work.
That’s obscene.
Notice how all the entertainment item such as toys and tv have gotten more affordable over the years, as necessities such as food housing and hospitol services have gotten significantly pricier.
Yeah something’s wrong here.
It’s called a paywall. The rich only look after their own.
This is a pretty good demonstration of why capitalism doesn’t work in practice. One of the core concepts of capitalism is that people will only pay what they can afford so the market will adjust and most things will be affordable to most people. This generally works for leisure items but not essential items.Â
But, if it’s a choice between death and debt (or other undesirable ways of raising money) people will obviously go with the latter. And if every company that offers essential items/services raises their prices they all benefit, because people will have no choice but to pay more. And the core tenet of capitalism is that businesses should take the action that makes the most profit.Â