We also have things such as patents which block entry to cheaper and competing products into the marketplace. We live in a market primarily controlled by corporate manipulation of both supply and demand. Consumers don't really have any input into the price of a product and the "free market" is all smoke and mirrors. The "free market" doesn't decide to stockpile huge quantities of diamonds and artificially increase their value by restricting the supply available on the market; DeBeers does. If it really were a "free market" then those stockpiles would factor into the price.
Last edited by Napoleon; 11-11-13 at 01:53 PM.
But I really don't see what this has to do with Venezuela's current situation. It's all about their dependence on one industry that goes through boom and bust cycles and will eventually disappear. Right now they're feeling a bit of a pinch and instead of reacting by putting a little sanity into funding their society they're going after people who supply goods. That will yield a negative result every time.
Last edited by clownboy; 11-11-13 at 02:02 PM.
Essential goods should not be priced out of reach of the average citizen, assuming they have jobs.
Problem is what we deem essential, and the reduced amount of jobs available. Some of our recently lost jobs are never coming back.
Our poor in the USA live better than most of the world, and a large percentage of them do nothing to earn or deserve it. Too many think of their welfare checks as an entitlement. We are already well on the way to a United Kingdom life style.
Oracle of Utah
Truth rings hollow in empty heads.