Wages and Panic Buttons

Tom Lehman uswa12 at Lorainccc.edu
Thu Aug 5 11:52:58 PDT 1999

Mike, I don't know how you get around price gouging---and the effect of price gouging during normal economic conditions?

For example, I need a 2' x 2' piece of galvanized sheet metal to cut up for body repairs on my 1986 Jeep truck. So I went to a couple of large chain discount hardware stores. The first place I went specializes in farm supplies/ and equipment---they wanted 14.00 dollars for a piece of sheet metal. Then I went to a big box general hardware they too wanted 14.00. Then my brain kicked in and I went to the furnace department and got a bigger piece of sheet metal that even had lock seams down two edges for 3.00 dollars!

It's the same way in angle iron a/k/a merchant bar. A six foot piece of bar stock that is sold for 8.00 dollars or more might cost for best quality .60 to .80 cents from the mill.

Tom L.

Michael Perelman wrote:

> Doug says that inflation hurts the working class. As I understand it, you have
> to make a distinction between the segements of the working. The most marginal
> workers do benefit during inflationary bouts from more employment. Others may
> fall behind.
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
> Tel. 530-898-5321
> E-Mail michael at ecst.csuchico.edu

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