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Politics : Formerly About Advanced Micro Devices
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To: Wharf Rat who wrote (886203)9/8/2015 10:22:34 PM
From: combjelly  Read Replies (2) of 1576163
 
Wharfie, Tim likes to play with purely theoretical concepts. Being a fan of Austrian School economics means he is comfortable with that. So he assumes that commerce operates in free markets where there is a level playing field and all of the competitors are about the same size and operate in rational ways to maximize their profits. In other words, more or less the pre-Industrial Revolution Great Britain that Adam Smith lived in and developed his theories for.

In such a world, it very well may make sense to drop your prices if sick leave goes away. At most, you only have a couple of employees and they are almost certainly under-utilized because you need to be able to manage surges and shifts without giving up business. So a little extra business could be absorbed, raising over all profits.

But things have changed in the intervening centuries. Some things still apply, but not everything. Tim doesn't realize that.
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