Tuesday, September 02, 2008

Demand and Price Are Falling for Lobster

Surprise, surprise. Demand for lobsters is down, supply is up, and prices have fallen. Even the NT Times now understands that markets actually work.

Now maybe they and politicians can understand that after a natural disaster when demand for water, hotel rooms, ice gasoline, generators or chain saws goes up, and supply falls, prices naturally go up. Not because of price gouging, but because of market forces.


At 9/02/2008 10:02 PM, Blogger David Damore said...

The hyperlink has an extra http. See below.



At 9/03/2008 2:29 AM, Anonymous Anonymous said...

Prices go up naturally when demand is high. Is natural "good"? If I am in a taxi and I start to feel sick and tell the driver to change destinataions and take me to the hospital and he says the fee to go to the hospital is $1000 is that good? When people get angry the naturally try to kill eachother. But we have laws to protect eachother from our natural tendencies.

At 9/03/2008 3:51 AM, Blogger fboness said...


You can't be serious.

At 9/03/2008 8:02 AM, Blogger Kevin said...

Falling prices on lobster due to demand destruction because people have returned to viewing it as a luxury food after years of high consumption.

Sounds to me like consumer spending is contracting a bit. It's a good indicator of an economic downturn.

At 9/03/2008 10:45 AM, Blogger K T Cat said...

Lobster prices are down? Pinch me!


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