Supply and Demand in Action, Part I
Click to enlarge.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Saturday, March 28, 2009
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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12 Comments:
Schumpeterian creative destruction in action.
The wonders of the free market to shift resources from where they are no longer needed to where they can be better used.
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At a time long long ago at a place far far away, we sometimes had occasion to want to drive to Huge Metro Area some 450 miles from Big City where we lived. If you were patient, you could call around and find a car-rental company that had vehicles to deadhead to HMA.
No frills, but all you had to pay for was the fuel used.
There seems to be a perverse joy at the problems in Michigan.
Perhaps someday Michigan will have to declare fiscal exigency and begin closing state facilities.
Perhaps UM Flint could be first?
Right after reading this item I would guess most readers here instantly grasp why there's a different price.
I wonder how many Congressmen could off the cuff explain it. I'd bet most of them see price gouging of Detroit's citizens.
Why use U-Haul? They have awful service, ancient vehicles that breakdown far too often, and outrageous prices.
I did a price quote with Penske for the same route and the same dates (Penske Detroit and Stow & Go Self Storage Dallas). Guess what? Penske is a much better deal and this isn't an anomaly. Note that you can get a further AAA discount with them as well (10%).
These quotes are for a 26' truck so they are directly comparable to the U-Haul quote.
Note: I have no affiliation with Penske other than I am a satisfied (business) customer. I have used ABF for a person move and liked them too (price was great, affiliated moving staffing company can provide labor, total cost is 1/3 of mayflower/united/etc).
Dallas --> Detroit 04/22-04/28
$279
Detroit --> Dallas 04/22-04/28
$1385
"Perhaps someday Michigan will have to declare fiscal exigency and begin closing state facilities"...
Hmmm, save the rustbelt you seem to be under the bizzare assumption that Dr. Perry unlike the rest of the useless parasites in the Michigan state agencies couldn't land on his feet if the University of Michigan closed down...
Why is that?
Do you think everyone is like you and have no salable job skills?
So save_the_rustbelt,
What's your plan to save the rustbelt? I'm no metallurgist, but I'm thinking that if you take that rusty metal, melt it down and burn/skim off the impurities, you may have a chance to re purpose that metal into something useful.
As for perverse joy, I don't sense that. I don't get any emotion at all from this post. It does kick off a sadness in me that the people running Detroit are so incompetent that they are running their city into the ground. That's creating a lot of hurting in a lot of good people.
No misterjosh, it is not the city of Detroit that causes the problem. It is the workings of markets through creative destruction. The city of Detroit and its government is the victim, not the cause of the problem.
Why is the ad dated April 22,2009?Shouldn't it be March 22?
The truck rental is for Apr. 22, 2009. To get a quote from U-Haul, you need to select a date for the truck rental.
The silly socialist speaks: "it is not the city of Detroit that causes the problem. It is the workings of markets through creative destruction. The city of Detroit and its government is the victim, not the cause of the problem"...
ROFLMAO!
Yeah Detroit's problems couldn't possibly be due to this: Detroit City Council or this:
sadly nutty situation or this sadly nutty situation part 2...
Yeah, that's right it was all about the 'workings of markets through creative destruction'...
LMAO!
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