Whether you’re an executive at Mott’s or a fashionista in Chicago seeking a deal on jeans, low-balling makes economic sense. It’s good for balance sheets, and the fact that people are being more cautious about what they pay for goods and service is a welcome reaction. But systematic low-balling has broad implications. Economist John Maynard [...]
Filed under: Money | Tagged: John Maynard Keynes, paradox of thrift | 1 Comment »
