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What are you going to do about it, though?

lol :h:

People.

SMH

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Your exact meaning of "in isolation" has not been defined, yet.

Any definition of "in isolation" which allows me to agree with your statements is divorced from a...

@ first bold: You're still assuming that the businesses' customers are either too stupid to notice that their value is reduced or too loyal to search for other businesses' solutions.

@ second...

@Cocco: Whether or not its a school is beside the point, I agree.

1) You're stipulating that increasing prices (and shafting consumers) increases revenue, but that is not a given.
Shafted...

Shut up, nerd!

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I'm sick AF right now. I'm lucky to have pieced together coherent thoughts, let alone spelled words goodly.

It seems that only a complete idiot of a businessman would assume they will retain their current level of customer loyalty if they reduce the quality of their product w/o a commensurate reduction in...

Increase prices?

Fire under-performing employees?

Garage sale?

I fully share your skepticism as to the utility of the postulates of economics.



This convo



Sorry if not fully on topic. I think I am, but not positive.

:highfive:

What is science without specific predictions?

What can be predicted if constancy is false?

The fundamental assumption of mathematics is that the number 1 is a meaningful concept, that the observation of distinct-ness between "different" objects isn't some flaw of human perception, that...

I once told you a personal, first-hand story where I was definitely acting in a manner absolutely contrary to your economic definition of being a rational actor and you ignore it. The example was...

No. Physicists have no reason whatsoever to think physics is different on the other side of an event horizon. We have no evidence or data on those locations. Every other place we have gathered...

That's not the question. You're saying that not only is this theory true within its tested domain, but therefore true beyond its tested domain, and if you don't agree, then you're a fool, a liar or...

What does that change? You're still saying that anyone "who knows the theory" and still disagrees with its assured application to minimum wage is foolish or disingenuous.

That's a prime feeding...

That's all well and good for the class of things which "he" values monetarily.

What about the wealth of things which he values at infinity dollars?

or 0 dollars?

Always? No, not always. I'd say not even often, if we're only talking about what you post on FTR.
You frequently attempt to make your economic points in terms of only money/profit and not of other...

:shock:
You ignore relevant factors all the time.

You ignore that there are things people value to the exclusion of monetary value. You talk about everything as though human emotional responses...

Interesting information.

I think you underestimate the motivating power of self-respect.

I heard a story of a failing auto factory and one of the things they did to fix it is they started a "bring your family to work"...

It's exactly stuff like this which makes me skeptical about economics.

You say that supply and demand is as rock solid as economic theory gets, but then you say that it can't be shown to even...

The invention of the combine harvester was the single greatest moment in modern history in a very real way. That one machine increased the amount of food a single person could produce by factors of...

Different systems can be better optimized on different scales.

Families are socialist. Employees in the same job are mostly egalitarian.

These work because of trust within the small groups...

Drinking your own Kool-Aid a bit much?

Nothing on that kind of pedestal is going to live up to the elevation.

Nah. This is a problem of building codes and regulations.

It's not reasonable to expect everyone who needs a building to be an architect.

It is reasonable for all architects to make safe...