Phil Miller, of the blog Market Power, reviews the economics-romance novel Invisible Heart by Russell Roberts. In his review, he quotes the following passage, adding that he wishes spokespeople from Wal-Mart would show some courage and say these things. This is a quotation of the economics hero speaking:
Just once, I�d like to hear a corporate spokesperson when asked to defend the company�s profits respond like this: �We make high profits because consumers are wildly enthusiastic about our superior products at a price that provides value. We encourage all our competitors to try and match our performance. We encourage our customers to stay with us only as long as they are satisfied. If you are dissatisfied with... our performance, be it where we put our factories or how much we pay our workers or the prices we charge, we encourage you to start a rival enterprise and outperform us. We thank our customers for enjoying our products and allowing the current level of profit. We intend to use those profits to further improve our fine products and to reward our investors who took a chance on our risky venture. Thank you very much.�
Posted by TheEclecticEconoclast on June, 13 2005 at 12:59 PM
