(Topic ID: 40063)

Theory on why pinball prices have risen

By BradLinden

11 years ago


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#122 11 years ago
Quoted from TheFamilyArcade:

Milton Friedman and the Chicago school of economics have been proven to be dead wrong and very flawed on much of what still, inexplicably and unfortunately, remains "conventional wisdom". It's economic theory from the stone ages, ignoring (because it didn't exist yet) contemporary accepted understandings of, for example, game theory and numerous other now practiced - and unbiased - ways of looking at economics.
I would call failing to accept or acknowledge this a serious example of ignorance. Ignorance is not a put down, so long as its not intentional and celebrated. Stupid is a put down and I haven't called anyone stupid.
To get back on topic...if Milton Friedman were explaining why pinball prices are the way they are in 1945 or 1955, we'd probably assume he was right. Today, he'd probably just be talking out of his old, wrinkly and wrong a$$.

Nelson, your just too smart for most of us simple folk on pinside! Stop hurting my feeble minded brain!

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