[QUOTE="ramey70"]Ah yes, the old "adjust for inflation" arguement. It's a real shame every College & University's Economics department has been teaching this for over 200 years. And ironically, I have used the inflation arguement when discussing gasoline prices with people. Inflation is a simple reality and is not some mythical reasoning conjured up by Sony supporters, although I'm sure you think it is. I always knew that my Econ professor strived to be more like Ken Kutaragi.
LosDaddie
Yup, and I'm sure people felt better when you enlightened them to the fact that gas prices, "adjusted to inflation", are cheap, right?
Depends on how educated they were. Those of my friends that I went to school with understood perfectly, and many actually changed their opinion. Those that weren't (or liberal arts majors ;) ) continued to rant about being "gouged" or how "big oil" was out to get them. This was even after I explain the nature and realities of the commodities market in which crude oil and gasoline futures are traded, and supply/demand line problems inherhent in the oil and gas industry. Of course this debate is for another forum. I have no qualms with current gasoline prices and understand full well why they are the way they are and why they are at or lower than they were 20 or 30 years ago.
Log in to comment