[ILUG-BOM] FOSS profit

Rony gnulinuxist at gmail.com
Sat Jan 1 23:49:49 IST 2011

On Friday 31 December 2010 08:55 AM, Binand Sethumadhavan wrote:
> 2010/12/30 Rony<gnulinuxist at gmail.com>:
>> taxiwala overcharges a few rupees during a taxi shortage, he is
>> considered a criminal who should be severely punished. If airline
>> companies form a cartel, create artificial shortage and extremely
>> overcharge their customers, they are respectable blue collared
>> businessmen who simply call it the laws of 'supply and demand'.
> First of all, I think you mean "white collared businessmen". :-)

Yes. Thanks for pointing it out.

> Third, the laws of supply and demand as taught in introductory
> economics courses assume "many suppliers and consumers" that one or a
> group of them cannot control the price - which obviously doesn't hold
> true in the case of a cartel. The airline bosses are taking the
> travelling public for a ride (pun intended) when they use these laws
> to justify their actions.

One of the head honchos had actually used the term 'supply and demand' 
in his statement to justify the high ticket prices.

> The concept of profit goes through three distinct phases:

You have painstakingly explained it. Thanks. :-)


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