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On Friday 30 March 2007 14:05, Celejar <celejar@gmail.com> was heard
to say:
> The bottom line is that if the cost is the same or lower (the
> assumption of the OP, because less processing is done), then given
> perfect competition, the price should be, too.

Except that "perfect competition" does not exist. It is one of the
primary flaws of Keynesian economics.

Platonic Competition, By George Reisman
http://www.mises.org/story/1988

"The macroeconomic result was called perfect competition..."
http://www.mises.org/journals/qjae/pdf/qjae7_4_1.pdf

The Misesian Case against Keynes
http://www.mises.org/story/2492

- --
September 11th, 2001
The proudest day for gun control and central
planning advocates in American history

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On Fri, 30 Mar 2007 17:30:42 -0400
Curt Howland <Howland@priss.com> wrote:

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>
> On Friday 30 March 2007 14:05, Celejar <celejar@gmail.com> was heard
> to say:
> > The bottom line is that if the cost is the same or lower (the
> > assumption of the OP, because less processing is done), then given
> > perfect competition, the price should be, too.
>
> Except that "perfect competition" does not exist. It is one of the
> primary flaws of Keynesian economics.

Thanks for the references, but I don't have time to peruse them
carefully at the moment; they are long and dense. If you can summarize
for me why you believe that your (their) understanding of competition
as it exists in the real world invalidates my argument, we can continue
this discussion.

> Platonic Competition, By George Reisman
> http://www.mises.org/story/1988
>
> "The macroeconomic result was called perfect competition..."
> http://www.mises.org/journals/qjae/pdf/qjae7_4_1.pdf
>
> The Misesian Case against Keynes
> http://www.mises.org/story/2492

This one mentions the word 'competition' for the first time almost at
the end, in footnote 20.

Celejar


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