First, a question. If I falsely advertised a price, $25 instead of $125, and someone tried to buy it under the presumption that it was this lower price, but I told them it was a mistake, would it be a crime and would I be forced to sell the goods at a lower price in a liberterian society? I do know that in this society, I would be forced to sell the goods at the lower price.
Second, I find it amusing that I can refute central concepts of GDP by showing that GDP is inaccurate. I find it stupid that people hold up things like public goods and GDP and the AS/AD as untouchable from criticism. Well, the fact that humans act is untouchable, but, why does this happen?
Also, should a person be evaluated purely on his actions? What role does a person’s intentions have in the situation?
And for some reason, I heard that “trickle-down” economics does not work. Do you think it is because its critics frame it as something ridiculous?
The first part is a good question for a lawyer. When you go to collect the $125, you have a violation of contract, either by you for trying to collect more than was agreed, or by the buyer refusing to pay, or both. Either way, it sounds like a contract that never gets executed because it was never clearly defined. but IANAL.
AS/AD?
Economics works all the time. Just not the way planners and special interests would like. Those filthy stinking humans keep making trades without any rhyme or reason besides satisfying their own needs as best as their resources allow. [:P]
AE teaches us that all action is purposeful behaviour directed at an end. As such a person’s intentions are key to the action and need to be taken into account, read Hoppe and Kinsella on this.
I don’t really see how this could be a problem. On one hand it would be fraud in a sense if I were to purposefully advertise my goods at a price lower than they are, but I don’t see how you could sue for it. If I advertise a $30 lamp at $25 in the hope that you’ll pick it up, come to pay for it and end up paying the extra money that you wouldn’t have if it were more expensive, I have deceived you and yet I haven’t stolen anything from you. On the other hand if you don’t buy it then there’s no problem other than me wasting your time, which can hardly be considered a crime. I think what would happen is that stores that practised this sort of thing would go out of buisness or at least lose buisness because of their practises. I’m not entirely sure though.