View Poll Results: Americans should be forced to purchase inferior goods at higher prices

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Thread: Americans should be forced to purchase inferior goods at higher prices

  1. #21
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by Kandahar View Post
    Well, it wasn't MY word as it isn't my thread...
    It's more accurate to say that they're unable to purchase the best product at a competitive price...which really amounts to the same thing.
    Not really. I'm unable to purchase many of the cars that are sold in Europe, some of which I consider to be excellent vehicles. Those cars could be sold in America, they simply are not. I could, if I really wanted, probably get one imported, converted to left-hand-drive (depending on the vehicle) and drive it here, it simply isn't worth it. The decision is made by the manufacturers if they want to put their product on the American market or not and that decision is almost always driven by economics. Is it worthwhile or not? It's not some government conspiracy.

    In fact, staying with the car analogy, Ford came up with a very high-mileage diesel not long ago, it was extremely gas efficient, didn't cost much, etc. but they decided not to sell it in America because they thought Americans wouldn't buy a diesel. It's for sale in Europe, where they have been driving diesel cars for decades.
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by Cilogy View Post
    In plain economic terms:

    "Normal goods" are goods which people buy more of when their income is higher or increasing.

    "Inferior goods" are goods which people buy more of when income is lower or decreasing.

    For example, if a normal good were to be a Lamborghini, an inferior good would be a Hyundai.


    In response to the question I would say no, because demand for inferior goods would go down, and then someone on some end loses something.
    But BOTH cars will get you to work, so how is either of them inferior? One is a luxury car, the other is a more than adequate functional car.
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by UtahBill View Post
    But BOTH cars will get you to work, so how is either of them inferior? One is a luxury car, the other is a more than adequate functional car.
    In the context he's referencing, he's using "inferior" as synonymous with "substitute", articulating a set of buying preferences that render a Hyundai an imperfect substitute good for the Ferrari.

    Extending the reasoning you apply above, you might consider the Hyundai to be a perfect substitute good to the Ferrari.

    substitute goods definition

  4. #24
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by UtahBill View Post
    But BOTH cars will get you to work, so how is either of them inferior? One is a luxury car, the other is a more than adequate functional car.
    Normal goods are called as such based on their quality, and the demand for them. A modern corvette will cost more money because it takes more resources to make, is higher quality, and there are few of them to go around... yet everyone wants one. Thus higher price.

    An inferior good like a hyundai would get people around just fine, but the question is: should people pay higher prices for inferior goods? This method is a way of giving more money to the economy, even though quality suffers. It would be like paying for a hyundai at the price of a corvette, in order to reduce input cost (the value of the resources used to manufacture the car) but maximize profit.

    In turn, the taxes collected on the corporate revenues from this artificially higher priced system would pay off national debt and provide more stimulus.

    Inferior goods, more often than not, are the most cheaply priced because they are made overseas where labour wages are much lowered (i.e. China), so the output cost (the end cost of the product) is less. Because the Obama Administration wants to implement the "buy American" policy, the same inferior goods would be made available through the domestic market ONLY... and even though it would be the same product as China could make, the domestic price would be higher. Thus... higher prices for inferior goods.

  5. #25
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by celticlord View Post
    In the context he's referencing, he's using "inferior" as synonymous with "substitute", articulating a set of buying preferences that render a Hyundai an imperfect substitute good for the Ferrari.

    Extending the reasoning you apply above, you might consider the Hyundai to be a perfect substitute good to the Ferrari.

    substitute goods definition
    I can easily afford a Hyundai, wouldn't buy one, but I can afford one. I can even afford a corvette, wouldn't buy one, but I can afford it.
    I cannot afford any ultra performance car, like lamborghini or a ferrari, and most of us cannot. So the comparison sucks.
    I can afford some luxury cars.
    I would prefer to buy a jaguar, if I was to go for a luxury car.
    It is the only modern luxury car that I consider having style.
    As for what is inferior, if it serves my purpose at a reasonable cost, then it cannot be considered inferior just because it isn't a luxury or high performance car.
    Inferior is what makes them fall apart in the first 100K miles, and I have never had a car that did that.
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  6. #26
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by Kandahar View Post
    Laws that bar slavery are a good thing, as slavery distorts the market.
    How does allowing companies to out source to communist and 3rd world countries and allowing companies to hire illegals not do the same thing?
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  7. #27
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by UtahBill View Post
    But BOTH cars will get you to work, so how is either of them inferior? One is a luxury car, the other is a more than adequate functional car.
    Yeah that's true, but when you talk about goods, "inferior" doesn't mean "lowly" or "worse than something else." It all has to do with income level.

    The definition of "inferior" changes in this situation, just the way "normal" does.

    Don't get me wrong, I would actually prefer a Hyundai over a Lambo, regardless of my income.
    Last edited by Cilogy; 03-27-09 at 02:23 PM.


  8. #28
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by jamesrage View Post
    How does allowing companies to out source to communist and 3rd world countries
    Because in the vast majority of cases, people in those countries choose where they work. If they are unsatisfied with their wages, they can look elsewhere. Supply and demand.

    Quote Originally Posted by jamesrage
    and allowing companies to hire illegals not do the same thing?
    Same thing. If the illegals are unsatisfied with their wages, they can look elsewhere. Supply and demand.

    What gives you the right to demand a ridiculously high wage, if someone else is willing to do the same job for a fraction of the price? You have no one to blame but yourself if you didn't get an education or acquire any useful skills to remain competitive in a global marketplace. It is not the fault of The Brown Man or The Yellow Man.
    Last edited by Kandahar; 03-27-09 at 02:23 PM.
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    Re: Americans should be forced to purchase inferior goods at higher prices

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    (Originally Posted by obvious Child View Post
    Americans should be forced to purchase inferior goods at higher prices.

    Agree or disagree?)

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  10. #30
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    Re: Americans should be forced to purchase inferior goods at higher prices

    Quote Originally Posted by Scarecrow Akhbar View Post
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