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So you enter the "Magic Shoppe", and inside you see...what ?
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<blockquote data-quote="Dannyalcatraz" data-source="post: 6332374" data-attributes="member: 19675"><p>I'm sorry, but your understanding of the fundamentals of economics is flawed here.</p><p></p><p>Supply is the material object or service side of the issue, but the demand curve is set more by human psychology than anything else. Beliefs, no matter how irrational or unfounded, drive demand. That's how fortunes get made & lost in volatile commodities markets.</p><p></p><p>Which means the actual existence or non-existence of magic is immaterial- those creating the demand are behaving as if magic exists, even if it does not.</p><p></p><p>And in the relevantly analogous RW time period, belief in magic & the supernatural was arguably more common than non belief. Certainly, beyond the noxious vials the crazy hag at the edge of town was selling as potions or the like, most probably believed magic was rare. But all that rarity does is drive the price up because the supply is small and/or hard to acquire.</p><p></p><p>Even today, some still believe. I live in one of the USA's biggest metropolitan areas, and can drive 5 minutes from my house and buy "authentic" talismans and potions. Until belief in magic is eradicated, a market will exist for it. It may be small; the prices may be exorbitant, but it will exist.</p><p></p><p>Or, to put it differently, the non-existence of magic does not <em>eliminate</em> a demand curve, it simply changes the size of the market. And as long as there is a demand curve, there will be someone out there to supply products and services to meet that demand- even though the buyers may be delusional and the suppliers charlatans. This is fundamental economics.</p></blockquote><p></p>
[QUOTE="Dannyalcatraz, post: 6332374, member: 19675"] I'm sorry, but your understanding of the fundamentals of economics is flawed here. Supply is the material object or service side of the issue, but the demand curve is set more by human psychology than anything else. Beliefs, no matter how irrational or unfounded, drive demand. That's how fortunes get made & lost in volatile commodities markets. Which means the actual existence or non-existence of magic is immaterial- those creating the demand are behaving as if magic exists, even if it does not. And in the relevantly analogous RW time period, belief in magic & the supernatural was arguably more common than non belief. Certainly, beyond the noxious vials the crazy hag at the edge of town was selling as potions or the like, most probably believed magic was rare. But all that rarity does is drive the price up because the supply is small and/or hard to acquire. Even today, some still believe. I live in one of the USA's biggest metropolitan areas, and can drive 5 minutes from my house and buy "authentic" talismans and potions. Until belief in magic is eradicated, a market will exist for it. It may be small; the prices may be exorbitant, but it will exist. Or, to put it differently, the non-existence of magic does not [I]eliminate[/I] a demand curve, it simply changes the size of the market. And as long as there is a demand curve, there will be someone out there to supply products and services to meet that demand- even though the buyers may be delusional and the suppliers charlatans. This is fundamental economics. [/QUOTE]
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So you enter the "Magic Shoppe", and inside you see...what ?
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