Quote:
Originally Posted by DGthe3
But not everyone paid that much. Even back then, most were essentially paying MSRP for their cars.
I never took Econ 101, but I did take ENGR 3360U: Engineering Economics. Based on the content, I imagine it covers most of the same topics as other introductory economics courses.
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Taking a sort-of economics class, and using statistics here, leads me to assume that you were being taught by a Keynesian, considering this is the most commonly held belief; but economic principles, such as simple supply and demand, are applied to
every aspect of economic, which includes the most basic aspects such as labor, capital, and even money. Frankly, what most Keynesians teach you is crap.
Subjectivity is logically undeniable in economics, unless you're a socialist or in some cases a Keynesian. The point here being that a sale
can not happen in a market economy without both parties feeling they are exchanging for an item of greater value to them; the person(s) who paid $350K for an LFA felt that the LFA was worth that much, thus the exact reason why they bought the LFA. To me, however, the LFA isn't worth $350K, yet this doesn't give me some logical backing to say it isn't worth that much to someone else.