Ned Pepper's Outrages

Saturday, August 4, 2012

Daily Economics Lesson

Ned offers another of his Invaluable Economics Lessons. Today's is the difference between price and cost. Americans believe the things are the same. Not so. Take toilet paper. Many persons will drive miles to a Walmart to get twelve rolls for some preposterously cheap price. Then they will proceed to use ten times as much, imagining it is 'cheap.' Others will buy a few rolls of environmentally sensitive paper at a higher cost, but will use less. Ned suggests that the ultimate price each pays is the same. And as a further example, take industrial meat. The corn and soybeans used for feed contribute to the degradation of the Gulf of Mexico and the poisoning of the Mississippi River. But that cost is not included in the price gluttonous persons pay to devour their pound of flesh.
Thus ends Ned's economics lesson for today.

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