[Rhodes22-list] Political - big Al delete - Brads economic question - However Big Al have considered that you opinions might be necessary to keep the young'uns in reality?

[Brad Haslett]

Ed,

Good article.  I've watched a number of smart accounting students and MBA
candidates struggle with the concept of "sunk costs" because they couldn't
remove emotions from the decision making process.  One professor used the
example of finding a twenty-dollar bill on the sidewalk.  Is its value zero
because it was free or is it worth $20?  If you paid $20 for a share of a
company that failed and went out of business, is your share worth $20 or is
it worthless?

You'd think that the fear mongers of global warming would be ecstatic about
$4 a gallon gasoline. And yet, the same voices are crying for a solution for
high gas prices.  No problem, let's start drilling!  No, we can't do that
because of the "environment".  Fine, let gasoline go to five bucks a gallon
and we'll slow global warming and "help" the environment. The laws of supply
and demand are pretty straight forward provided you keep emotions and
"rights" out of the decision making process.

Brad



On Fri, May 2, 2008 at 7:06 AM, Tootle <ekroposki at charter.net> wrote:

>
> Brad stated, "Here's a novel idea for the passenger airlines I learned in
> grad school - if it costs 4 cents to produce your product, charge a
> nickel."
>
> Then he followed with a question, "Where do we find these people?"
>
> Brad, your question presupposes that the readers either understand
> business
> (aka economics) or give a damn.  Remember you are asking that question to
> supporters of Hillary and Obama and maybe even McCain.
>
> And Michael M has already said that we need to lay off the subject.
> Apparently the socialists among us have been discretely given a green
> light
> by Michael M.  One posts an obviously baiting citation of a Maine advocacy
> of national health care.
>
> I ask you how many understand the following short article?
>
>
> http://www.gmu.edu/departments/economics/wew/articles/07/economicthinking.htm
>
> Ed K
> Greenville, SC, USA
>
>
> --
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>
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