Re: [OT] bread prices and economics
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On Friday 30 March 2007 14:05, Celejar <celejar@gmail.com> was heard
to say:
> The bottom line is that if the cost is the same or lower (the
> assumption of the OP, because less processing is done), then given
> perfect competition, the price should be, too.
Except that "perfect competition" does not exist. It is one of the
primary flaws of Keynesian economics.
Platonic Competition, By George Reisman
http://www.mises.org/story/1988
"The macroeconomic result was called perfect competition..."
http://www.mises.org/journals/qjae/pdf/qjae7_4_1.pdf
The Misesian Case against Keynes
http://www.mises.org/story/2492
- --
September 11th, 2001
The proudest day for gun control and central
planning advocates in American history
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