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Old 05-12-2019, 07:29 PM
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Default Whatever the market will bear

Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

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Old 05-12-2019, 08:01 PM
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Default Re: Whatever the market will bear

Quote:
Originally Posted by pjohns View Post
Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

Comments?
For profit businesses offering products or services to the public basically have two business models to choose from; make a little on a lot or a lot on a little.

Some products and services can demand high price for exceptional quality or exclusivity and turn a profit on low unit turnover. If these are Tiffany dog bowls maybe I could understand. Of course, never underestimate the power of marketing and the gullibility of consumers.

I've seen dog bowls with ridges that supposedly stop a dog from gulping down their food, that might be worth a few extra bucks if your dog wolfs down food and throws up on the carpet a few minutes later.
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Old 05-12-2019, 10:16 PM
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Default Re: Whatever the market will bear

Quote:
Originally Posted by pjohns View Post
Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

Comments?
Are you sure the market is bearing the asking price? You can price your product at any price, but until one is sold there is no market.

The market is also all about choices. Don't like 24 bucks? Go to the 4 buck bowl store.

What you're describing is the market system. The vendor thought he could get $24. You decided you didn't need it that bad. Sooner or later you'll get a bowl or find an alternate solution. Sooner or later if the public won't pay that price, the vendor will begin selling cheaper bowls.

Last edited by jimbo; 05-12-2019 at 10:26 PM..
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Old 05-13-2019, 06:12 AM
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Default Re: Whatever the market will bear

Quote:
Originally Posted by pjohns View Post
Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

Comments?
Jimbo and Jeerleader pretty much covered it. No one is forcing anyone to pay the $25 bowl, as long as other bowls at other price points are available.

If ALL dog bowls suddenly jumped up to $25, then there would be reason to question if there was price fixing involved, and then people like me would be using an old mixing bowl with sticky Velcro on the bottom that cost $1 from the Goodwill store to feed the dog....
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Old 05-13-2019, 07:41 AM
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Default Re: Whatever the market will bear

All of the reason above, tell us why the Government should not be in the business of business. If we had a centralized economy all dog bowls would be the same quality and price. The quality would be poor and the price would be what the government needed to fund it's function and the salaries of the oligarchy.
Under such a system, Human bowls could likely be the same product and be filled with the same foods. And the public could do little about it.

Under free market principles, the richer amoung us will pay for the overpriced bowls to feed their pampered pets the same dried gruels sold as designer products. Regular folks will chose value and by the commodity at the best price points for the desired results.

My personal experience,???/ We have a designer dog who cost a ridiculous amount but, she eats out of a two dollar bowl.
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Old 05-13-2019, 02:51 PM
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Default Re: Whatever the market will bear

sellers want to maximize profit.
consumers want to maximize value.

i chose sellers rather than businesses because without being a business we all sell things at some point. as an employee we sell our labor - certainly we want the most we can get for our work. and businesses want the most value from purchasing our labor. maybe you own a house. when you go to sell it you most definitely want the most you can get out of it maximizing profit. the home buyer is trying to get the most value for their buck.

what the market will bear is a balance between the sellerís profit and the consumerís value.
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Old 05-13-2019, 03:13 PM
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Default Re: Whatever the market will bear

Quote:
Originally Posted by pjohns View Post
Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

Comments?
Our Chihuahuas eat off some aluminum foil full of leftovers and dog food. I don't hear them complaining that we are not using 23 dollar Chinese crap for their eating pleasure.
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Old 05-13-2019, 03:51 PM
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Default Re: Whatever the market will bear

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Our Chihuahuas eat off some aluminum foil full of leftovers and dog food. I don't hear them complaining that we are not using 23 dollar Chinese crap for their eating pleasure.
Off topic for a moment: Somehow, I did not envision you owning Chihuahuas. Perhaps it has something to do with the slavering wolf in your avatar.....
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Old 05-13-2019, 04:10 PM
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Default Re: Whatever the market will bear

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Off topic for a moment: Somehow, I did not envision you owning Chihuahuas. Perhaps it has something to do with the slavering wolf in your avatar.....
That is a baboon in the avatar. The Chihuahuas belong to my wife and grandkids.

Noisy little critters, but they are good alarm dogs. They don't care at all what type of dog bowl they eat out of either. They won't eat the aluminum, but their bowls are stainless steel anyway. We bought two for less than five dollars.
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Old 05-13-2019, 05:40 PM
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Default Re: Whatever the market will bear

Quote:
Originally Posted by pjohns View Post
Just yesterday, I noticed some dog bowls for sale for $22. (Well, technically, for $21.99; but that is really over $23, given a sales tax of 9.75 percent.)

My guess is that these bowls probably cost no more than three or four dollars--at the most--to produce.

To my way of thinking, that is simply unconscionable. It is whatever-the market-will-bear pricing--rather than pricing to turn a reasonable profit.

And the former is certainly not what capitalism is all about, in my view.

Comments?
been that way for some time, my friend. and i bet with tarriffs, some will use it as an excuse to raise the 22 dollar price of that 3 dollar bowl to 24 dollars

and you're right it's not the way our economy is supposed to work.
consumers are figured into a big chart or computer program and milked for the last dollar to keep them consuming
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