tag:blogger.com,1999:blog-3526675548496887854.post955964571879498545..comments2023-06-29T07:41:45.657-04:00Comments on The Classical Liberal: Basic Economics: We're Runnng Out of ChocolateThe Classical Liberalhttp://www.blogger.com/profile/12534309875032479676noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3526675548496887854.post-75903029960492764082010-11-30T09:09:14.347-05:002010-11-30T09:09:14.347-05:00There's a lot I can do about it. I can choose ...There's a lot I can do about it. I can choose to eat less chocolate. And I would, long before it hit $12 a bar. My guess is that the overwhelming majority of chocolate eaters would as well. <br /><br />A seller can set the price where ever he wants, but a buyer may chose not to buy it at that price. ASSUMING the monopolist wants to make money he needs to sell his product. The longer he holds his product the more he loses money through interest and shrinkage.Gilbert Midonnethttps://www.blogger.com/profile/00023694173793466861noreply@blogger.comtag:blogger.com,1999:blog-3526675548496887854.post-83523796364910327792010-11-30T08:18:07.938-05:002010-11-30T08:18:07.938-05:00You sure took long enought to respond. Your point ...You sure took long enought to respond. Your point is more of the same old free-market crap. If a monopolist corners the market he will set the price. If he want to sell chocolate at 12 dollars he will and there will be nothing you could do about it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3526675548496887854.post-20407387136969179032010-11-29T22:42:01.962-05:002010-11-29T22:42:01.962-05:00I don't think chocolate prices are as elastic ...I don't think chocolate prices are as elastic as oil. Long before the prices reach $12 consumers will pull back their consumption.Gilbert Midonnethttps://www.blogger.com/profile/00023694173793466861noreply@blogger.comtag:blogger.com,1999:blog-3526675548496887854.post-52795594390782646422010-11-21T10:08:21.710-05:002010-11-21T10:08:21.710-05:00It looks as if prices will rise. Its all over the ...It looks as if prices will rise. Its all over the web. Looks like your wrong. Free markets don't work. Monopolists are cornering the market and will raise the price.<br /><br />"A British financier is behind a £658 million cocoa trade which single-handedly moved the global cocoa market. Anthony Ward, 50, bought 241,000 tons of cocoa beans and now owns enough to manufacture 5.3 billion quarter-pound chocolate bars. <br /><br />Mr Ward, who is worth around £36 million, holds so much of the market he could force manufacturers to raise the price of Britain’s favourite chocolate bars. The transaction, the largest single cocoa trade in 14 years, was carried out last Friday by Armajaro Holdings, a hedge fund co-founded by Mr Ward."<br /><br />http://singaporeuncletrader.wordpress.com/2010/07/19/the-chocolate-corner-tony-ward-has-just-cornered-europes-entire-cocoa-market/Anonymousnoreply@blogger.com