This is a quality post. Anyone with questions regarding pricing should read it, very well done.

The sad thing is, everyone who needs to read it, won't.

"Everyone" = OP?

Nobody who's been here since before your last vacation doubts that Some of us just disagree with your conclusions xD

True for some simple things like wheat and milk but , actually the price of many items aren't determined by public demand at all , most often they are determined by what level of monopoly a company has on it or to say it more simply – How low will my competition go.
Diamonds are hugely controlled and so is their value. My water and hydro company never ask anyone about their opinion of pricing. Things like Apples iphone's pricing has little to do with public demand – that's why they have 90 billion dollars in the bank – from overpricing their plastic. Look at Donald Trump – hes buys neckties from china for 1$ and then sells them at Macy's for 100$. The public has absolutely nothing to do with pricing here, its just him being a greedy old man.
Same thing can be said for oil – Do you think if enough people complain about the price of gas, it would go down? That's about as ridiculous as blaming the President for the price of oil.(like he picks up his iphone and talks to OPEC every morning “What should we set the price of gas to today...”)
Even if the price of gas went up to 20$ a gallon , there is very little anyone could do – except cry while they wait in line...



True in many cases except the most important UN-renewable limited resource in the world – Oil.



That quantity of money supply is the ultimate factor in determining value is a myth largely propagated by corporate wing nuts and I think you'll find their are much more rational challenges to this thought in Keynesian economics. The concept of money has gone on to encompass many values, but lets not forget where the idea for money came from - a need to account for the labor and efforts of man.



True today , but i was talking about 10,000 yrs ago , before there was money – there was just labor.
Oh wait didn't God create the dollar bill on the sixth day?..........

This post was edited by card_sultan on Nov 29 2012 10:51pm

To the topic creator; the most important un-renewable ressource of the world is sun, go there and mediate with him to make sure he stays forever.

This post was edited by NumbSouls on Nov 30 2012 04:48am

I think you mean the most interesting collection of molecules that provide the most inexhaustible source of free power in the universe that we real don’t understand....

So only the UN can restore oil?
Good to know. Noted.

and the Aliens - cause they run their spaceships on turbo gas.......