Australians believe in spooks!

[iamaboringperson]

http://theage.com.au/articles/2004/02/24/1077594826710.html

The survey of 1000 people found eight in 10 Australians believe there are people who posses psychic powers. At least seven in 10 believe in the afterlife and in haunted houses.

:lol:
I must say that only a couple of months ago, I met a young woman who believed that her father haunted one of the rooms in her mothers house!

And that's only one of the many people I've met over the past year or so who believe in such things.

[iamaboringperson]

Casinos would go broke.

Probably.

Everything you buy would suddenly get way cheaper because the free market would operate efficiently since you would know what the other guys costs were and he wouldn't be able to make 200% margin.

I disagree.

Why would people not buy just because there is a huge profit margin. I mean, everybody knows there is a profit margin, yet ofcourse they still buy.

If you want the product and are prepared to pay, you will buy regardless of whether you know what the profit margin is.

[iamaboringperson]

In a perfectly efficient, no-one makes any profit. Profit only comes from inefficiency, which comes from disrupting information.

People wouldn't have businesses without profit.

Who could be bothered going through all the crap that is necessary to open a shop, if there is no profit to be made?? That would be -> :crazy:


No profit = No business

If I'm trying to sell you something, it is important that I never tell you what I paid for it.

Why is it important?

Sometimes people like to know what it cost the retailer before they buy. FACT.

[iamaboringperson]

company + 0% profit = why bother

:lol: Exactly!

And I think that's the logic that Fluff is trying to convey! Erm... I that is, I think he wants nobody to work or trade!


And 0 profit is NOT more efficient! Imagine if businesses(assuming they still existed) began making 0 profits(not deliberately for this example, but due to say... an "act of god").

Businesses would go broke, shut up shop, some new moron would come along who thinks he can do business, spends some dough to open a new shop - no profit, wham! No more business.

If people try to open shops, you'll find a big turn over of shop keepers in the same area. And a crap load of money will be wasted in doing it.

That sir, is not efficient! :lol:

[iamaboringperson]

If you want to get a good price for something that you are selling, you must let the customer get the impression that they are getting a good deal out of you. If they find out how little you paid they will push harder for a better deal.

They might.

But that doesn't mean that the person who is selling is necessarily going to reduce their price as much as you want, and, in fact may not reduce the product at all.

I know of shop owners who buy from other shop owners knowing what the profit margin is. Everybody makes a profit. And nobody is unhappy.

Now, assuming that the buyer haggled the price down to around the sellers cost price. Don't you suppose that assuming the seller actually sells for that price(the alternative being keeping the goods and being out of pocket) that he'd give up?

There would never be a time of no profit. You'd either sell at a gain, or not.

Therefore nobody can be in business at selling with zero, or next to zero profit for long.

That is ineficiency.

[iamaboringperson]

One huge inefficiency enforced by government regulation, for example, is patent protection.

Removing the protection provided by patents is ineficient, because an inventor can make no profit on an invention that isn't released.

[iamaboringperson]

Company A has no R&D, because Company A makes no profit.

I disagree. Company A could always reduce the current wages, or even better, replace their employees with super efficient robots! :lol:

Company A is moving and shaking!

And billions of dollars of governemt grants aren't required to stimulate the ecconomy! :lol:

[iamaboringperson]

Well... I don't know about you, T_Bone, but I'm off to plough the feilds (to the benefit of the state)! :-P