P
Paul Burke
Guest
Pooh Bear wrote:
driving out good; now it's bad products. Look at what happened to floppy
disks- the drive for low price reduced the quality BELOW the minimum
required for safe data storage. Nobody wants to spend $1 each on
floppies like we did not-so-many-years-ago. If I need to use one these
days, I've got a box of 10-15 year old ones that I recycle. They are
still better than buying new.
Similar thing has happened to food. Supermarkets sell cheap crap, small
shops selling good stuff at 1.5 times the price go out of business (then
the price of the crap goes up too).
Paul Burke
An example of Gresham's Law in action. Then it concerned bad moneya) Probably because no-one actually *needs* a 500W power supply and the
dodgy suppliers know this.
b) Because it's possible to cheat and lie. Enron did this rather
dramatically for example.
driving out good; now it's bad products. Look at what happened to floppy
disks- the drive for low price reduced the quality BELOW the minimum
required for safe data storage. Nobody wants to spend $1 each on
floppies like we did not-so-many-years-ago. If I need to use one these
days, I've got a box of 10-15 year old ones that I recycle. They are
still better than buying new.
Similar thing has happened to food. Supermarkets sell cheap crap, small
shops selling good stuff at 1.5 times the price go out of business (then
the price of the crap goes up too).
Paul Burke