Saturday, August 15, 2009

Get what you pay for

From the exchange between Wolf Blitzer and Linda "Seems Fishy" Douglass:

Douglass: ". . . seniors . . . are paying exorbitant costs for prescription drugs."

Stop the tape. What, exactly, is Linda Douglass' point? Are seniors paying "exorbitant costs?" Let's assume they are, and ask: "Are seniors getting something of 'exorbitant' value in exchange?" If they are, will people continue to produce things of 'exorbitant' value when they are not allowed to receive a fair, which may mean 'exorbitant,' price in exchange?

To borrow a line: "Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value." Ayn Rand, Atlas Shrugged

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