3 guys are taken to jail on the same day. Ironically, they all ran gas stations, so they passed the time by discussing their reasons for being in jail.
Prisoner 1: "My prices were higher than all of my competitors, so they locked me up for price gouging."
Prisoner 2: "My prices were lower than all my competitors, so they locked me up for predatory pricing."
Prisoner 3: "That's nothing! My prices were the same as all my competitors, so they locked me up for collusion!"
Thursday, October 28
Economic joke
From the Mises Economics Blog:
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