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Monday, August 08, 2005

High Prices Show Greed

I found this wonderful quote from an old Arnold Kling essay called "Economic Illiteracy Quadrifecta" about the econ mistakes of the "almost won it" John Kerry campaign. Kling quotes Bryan Kaplan from Straight Talk About Economic Literacy :

"In the minds of the public, prices apparently go up when businesses suddenly start to feel greedier. Economists, in contrast, expect businesses to be greedy year-in, year-out; but depending on market conditions, greed may call for prices to go up, go down, or stay the same."

1 Comments:

At 4:17 AM, Anonymous Anonymous said...

What a great site »

 

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