Anorak | The Guardian really doesn’t get this economics stuff

The Guardian really doesn’t get this economics stuff

by | 17th, July 2012

THE Guardian  newspaper has not a clue when it comes to economics. They claim the following :

How much is a fair price for a pint of milk? The answer is: whatever price allows everyone in the supply chain – farmer, dairy, supermarket – to turn an honest profit.

Dear God, that’s just insane.

Cast you minds back a few years. Think of when all the banks were losing tens of billions of quid. Did we see The Guardian claiming that the price of banking was too low? That we all ought to pay more so all suppliers could make an honest profit?

No, we didn’t: for the quite obvious reason that no one at all is due a profit, honest or otherwise. A profit is a happy outcome of the value we consumers place on your production

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Posted: 17th, July 2012 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink