LETTERS: Readers sound off on economics, trans competition, Scouts and Baylor basketball – Waco Tribune-Herald

by | Mar 22, 2022 | Financial

Economics 101People who don’t understand economics shouldn’t opine on economic matters. (In my opinion, they also shouldn’t vote, especially about how to spend taxpayer money.)If you think that companies across the board increase profits [Letters, March 20] by raising prices, you are ignorant of economics. In a properly competitive market, firms increase market share by decreasing prices, and by improving efficiencies to keep their own costs down. This is the benefit of competition.Stimulus spending and printing money are quite often to blame for inflation. To claim that companies, everywhere in a market economy — companies that are in competition with each other to gain market share, which prohibits any kind of long-term collusion on price fixing — are conspiring to raise prices is to ignore the firm economic realities of government spending and competition.

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If raising prices, always and everywhere, increased profits, there would be no force preventing prices from continuing to skyrocket toward infinity, rather than fluctuating as supply and demand dictate. Firms have to sell things, and that means keeping things priced so they’ll sell. Pricing things out of reach of their customer bases does not gain market share.Berry Muhl, Prairie HillLogic saysThere has been a lot of talk on the news lately about transgender people wanting to compete against women in college athletics. Logic and common sense tells you that this is wrong. Men compete against men, women compete against women and transgenders compete against other transgenders. I personally think the group will mostly die off after a few generations.Jack Munson, WacoScouts helping outMy name is Taylor Boyd, and I am 14 years old. I am a Boy Scout in Troop 308 out of Waco First United Methodist Church. I am incredibly proud to be involved in this organization after reading about what the Ukrainian, Polish, Czech and Ro …

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