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Pastimes : Austrian Economics, a lens on everyday reality
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To: Don Lloyd who wrote (185)4/3/2003 6:53:53 PM
From: Wildstar  Read Replies (1) of 445
 
Don,

I agree that the statements you are looking for can probably not be made.

I have trouble with this conclusion. Part of the Austrian viewpoint is that if deduction doesn't match reality, then the deduction is wrong. I intuitively believe that the market does indeed allocate goods "efficiently." I think that this conclusion has to be reached somehow from the basic axioms of human action; I just don't know how.

Further, if the conclusion cannot be reached, then why not place price caps on plywood during hurricanes?

What the 'one price' market does do is ensure that almost every purchase is made at a substantial psychic profit, obtaining goods at a money price likely to be of the order of at least 25% less than what you would be willing to sell back the last good in stock for that you just purchased.

Where did you get 25%?

Wildstar
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