Chapter
The Role of Supply and Demand in Setting Prices
1:01:31 - 1:07:38 (06:06)
The market value of a product is often decided by its supply and demand, and the higher price for a product means that it is highly demanded or less available in supply, leading to the prestige of possessing it.
Clips
The pricing strategy for collectibles is based on supply and demand; a product's value can increase based on its limited supply or high demand.
1:01:31 - 1:03:20 (01:48)
Summary
The pricing strategy for collectibles is based on supply and demand; a product's value can increase based on its limited supply or high demand. This is regardless of whether or not buyers are aware of the item's historical significance.
ChapterThe Role of Supply and Demand in Setting Prices
Episode#575 - Michael Malice - Why You Should Take The White Pill
PodcastModern Wisdom
The host compares the two extremes: Capitalism and Socialism, their flaws, and advantages.
1:03:20 - 1:05:57 (02:36)
Summary
The host compares the two extremes: Capitalism and Socialism, their flaws, and advantages. He argues that even in a capitalist system, there should be a way to provide status and prestige to people who are the most productive.
ChapterThe Role of Supply and Demand in Setting Prices
Episode#575 - Michael Malice - Why You Should Take The White Pill
PodcastModern Wisdom
The podcast highlights the difficulty in understanding the negative impacts of political upheaval in non-Western countries, using the example of the secret police in China as a complicated issue that cannot be easily judged without experiencing it.
1:05:58 - 1:07:38 (01:39)
Summary
The podcast highlights the difficulty in understanding the negative impacts of political upheaval in non-Western countries, using the example of the secret police in China as a complicated issue that cannot be easily judged without experiencing it.