Subject:
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Re: Honest Capitalism (Was Re: DYA -> eBay 8880 money-making scheme)
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 9 Sep 1999 12:31:08 GMT
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Viewed:
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1249 times
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Kevin Loch wrote:
>
> Richard Franks wrote:
>
> > other person turning around and selling them for a profit. A system where the
> > sets go to those who want to play with them, rather than a system where the
> > sets go to those who are able to pay the most for them.
> >
> > Richard
>
> I agree that the sets should go to those who want them the most. The
> only
> way for people to prove that they want it the most is to pay the most.
> Money calibrates ones desires in a quantitative way, at least when the
> people involved
> have the same order of magnitude of wealth.
Right but same order of magnitude isn't the real world. Can you really
claim that Larry wants that seventh Metroliner more than the ten year
old who's saved up $160 but just can't manage $350? I suspect a normal
ten year old saving up $160 has demonstrated more desire than Larry has
by "saving" up $350.
All that said, I don't think there's a way to improve the system
terribly. I like the free market and auctions. The best way for the
system to be better, I guess, is for Larry to give the kid who has shown
that much desire a Metroliner for Christmas.
(Sorry for picking on you Larry, it was just an example.)
--Chris
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