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- Oct 10, 2006
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1. You said in a earlier post that you were not criticizing anyone in this thread. Apparently, you would regard being called a "sucker" as complimentary.
No, I pointed out that it's a personal thing, and that I'd likely have spending habits which would lend themselves to the same term in your eyes. I'm criticizing the price, not the people who pay it. If you want to be fool enough to shell out the cash for that, that's on you. As I noted, I used to drop $200 plus on dinner for two at the Cafe Budapest and not think twice about it. I'm sure that a lot of people would find that to be an act of ridiculously overpaying for a meal, and a foolish thing to do. Hell, when you realize that an extra value meal costs somewhere around $5, you can look at that $200 as 40 meals. Taken in such context, it can be seen as absolutely idiotic to drop the 2 Franklins for 1 meal. Nonetheless, I personally felt it was worth it.
2. You get an "F" in introductory economics if you think that a product for which the demand greatly exceeds the supply is overpriced. Thats' pretty basic stuff.
You're misusing the term. That's not my problem, it's yours. You're focused on "costs too much" as if it's a specific financial number when it's not. If I think something is overpriced, it's overpriced to me. It's a subjective term.
3. I wouldn't pay $9 for a beer, but others do. If that's what is sells for, that's what it's worth. Not everyone has to buy it for it to be a good deal for both the buyer and seller.
No, it's not "what it's worth". That's what the consumer has agreed to pay for the beer, whether he thinks it's truly worth that much or not. It's market price, and overpriced or underpriced don't necessarily equate to that, but can. The law of supply and demand doesn't determine an object's concrete value based upon the highest dollar amount paid anywhere in the world. Frankly, this argument is getting ridiculous. Even in context of NFL salaries, people freely talk about players who are overpaid, or who have outplayed their contract. The terms are understood, which is why this discussion is beginning to enter areas which make no contextual sense.
4. I regret that sports has become such a big business, but that's what it is. It's expensive and that leave a lot of people out. That's sad, but it's also reality.
5. When the time comes that the team is no longer competitive, people will see less value and less will be willing to spend the money.
Indeed, because it will be considered overpriced by more and more people.
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