WiM054 - The Vervaeke Series | Episode 5 | A Psychotechnological Theory of Money
The "What is Money?" Show
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Why a Wine Maker Doubles the Price of His Wine
A wine maker in an inflationary economy has three choices. He can one, double the price of his wine. This would cause his customers to look elsewhere. His second option is to keep his a priced at 20 dollars and just eat the loss. But his third option would be he could water down the wine or use cheaper s or inferior ingredients. And this is effectively defrauding his customers.
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