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Uh, you might want to re-take some of those college economics courses. It doesn't exactly work that way. Some costs do, others don't, it depends. After all, the market clearing price is the price where demand and supply meet. You know, price elasticity of demand (and supply), and all that.
 

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Can't really get on board with the AMA on this one. Seems like a 'personal responsibility' issue, to borrow a phrase from those conservative paragons of personal virtue in Congress. Taking responsibility for the consequences of our actions. Like tailpipe emissions.



I can agree that from a public policy standpoint that coming down on motorcycles probably won't provide the biggest bang for the regulatory buck, but that's no reason to stonewall. Just because the SUV makers get away with it doesn't make it right.



Hey, does anyone remember when Detroit stonewalled on emission regs in the 60's and 70's, built cars that ran like crap and got lousy mileage, then the Japanese figured out how to combine tailpipe emissions, drivability and fuel mileage, stealing big chunks of market share from the big three in the process? Yep, stonewalling pays off in a big way!



Okay, okay, I've over-simplified a bit, but the principle is clear - these sort of regulatory issues create discontinuities that lead to competitive opportunities. Some manufacturers/nations are clever enough to take advantage of those opportunities, others stonewall.
 

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Gosh, you must be right. That degree in economics from a school with an notoriously conservative/monetarist point of view must have swept away all ability to think rationally, and left me a hapless stooge of the liberal press. Oh yeah, and I guess that MBA in strategy and competitive decision making was a complete waste of time, not to mention the years of private sector management experience. All of that trouble could have been avoided had I only read an ideologue like Sowell!



Oh wait, I did....
 

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As for Keynes, a little reading of history would reveal that he was a fabulously successful securities investor.... Hmmm, maybe he did know something. Nah, can't be. He doesn't agree with you.
 

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Thank you for so selflessly taking the time to eliminate my misconceptions. You raise a point that still confuses me, and perhaps you can provide some guidance. Do you mean that all PhD's are infallible, or is that limited to UofC PhD's, or only Sowell?



"... dolt with a keyboard"? Wow, the level of debate has risen to dizzying heights for someone of my obviously limited intellect. I'll have to commit that one to memory for the next time someone dares to question me. Unless of course, like you, they are my superior in every way....
 
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