Monthly Archives: June 2013

Challenge: How to differentiate between fake and real motor oil

Regardless of the extent to which any market is regulated or self-regulating, smart consumers don’t suffer from the illusion that some amorphous government official is “protecting them”. They judge and decide for themselves. Do they prefer to pay less and accept that they might get “fake” goods? Or would they rather pay more to get a higher grade product, and if so, how do they make this judgment? Continue reading

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Posted in Economics, Observations | Tagged , | 6 Comments