Re:Why Henry III's gold penny failed
by lpapez on Monday January 31, 2022 @04:32PM
(#30154751)
This is a really weird and frankly naive take IMO, especially after what we witnessed during the pandemic. The demand for some goods is not affected by their price, and such goods have a name that you can hear in any Economics 101 class - "inelastic goods".
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Re:Why Henry III's gold penny failed
by WalterBright on Monday January 31, 2022 @06:32PM
(#30156390)
I hear all the time that prices for certain goods are inelastic - particularly for gas and housing and medical care. But events always show it most definitely is elastic.