“Anyone who cannot understand that people demand less of something when the price goes up and more when the price goes down are hopelessly stupid.”
Agreed. You go on to provide two very good examples on how people adjust their behavior based on price.
I once argued on FR that automation of check-out lanes and fast food establishments have been accelerated due to all this talk of raising the “living wage” and raising the minimum wage. One poster just refused to see any connection.
“One poster just refused to see any connection.”
I think refused is he right word, how could anyone who is not insisting on living in a fantasy fail to see it?