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#27 Feb 10 2009 at 5:36 AM Rating: Decent
I honestly believe those people are speds that are doing it just to annoy and waste the time of buyers as the items that they'll inevitably put 100 singles onto the AH of are items that you're only going to want a single of maybe 5% of the time at most.
#28 Feb 10 2009 at 6:57 AM Rating: Decent
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2,188 posts
Zuriche wrote:
The seller can only suggest a price. It is the mass of buyers who actually determine what the median market price for a good or service is. If the price is too high, people won't buy.

Yes. I know this is going to sound simplistic but I'm not an economist. When my wife tells me that our house is now worth more because the guy across the street just sold his for a bit more than the previous person did I laugh to myself. Houses are fungible for the most part. What my house is worth is easy to determine but not before I sell it - it's worth whatever someone will pay for it. Let me repeat, I know it's simplistic but in a very general way it states the rule of thumb (is there any other way to state a rule of thumb I wonder?).

RobbyFaces wrote:
Why do they take 100's of a fast selling/indemand/stackable item like dusts, ores, bars, cloths, leathers, etc. and list them in singles?

Part of the reason is habit. At one time it was the general rule that you list enchanting mats in singles. In WotLK you need so many Infinite Dust for a recipe that it no longer makes sense. Why list ore, bars, cloth, leather, etc. in singles is beyond the capacity of my simple mind to comprehend.


____________________________
"the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country."
Hermann Goering, April 1946.
#29 Feb 10 2009 at 7:24 AM Rating: Good
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713 posts
IMO Over-Undercutting someone else's price is due to impatience. I usually list my prices a little lower then the lowest prices just so that the item will take priority listing and sell first(hint: if your using a bankalt make sure their name is Aaardvark or something like you come first alphabetically too).

As far as selling in stacks over single I do it because I'm just lazy. Why sit there and seperate all those essences, dusts, leathers, ores into singles when they will sell in stacks of 5, 10 or 20 for the same price? The same goes when collecting the gold in my mailbox afterwards. I hate having three pages of single items that have sold when I could have one page of stacks with the same amount of incoming gold. I think people buy my stacks for the same reason too.

In retrospect though if I looked on the auction house and saw there were no singles I would list 5 or so of said item at a higher price than what it was selling for in stacks as some people will only need one of the item and will pay more due to the fact that they don't want a whole stack. I rarely see this but when I do I have made some good profits.

Edited, Feb 10th 2009 3:30pm by arthoriuss
#30 Feb 10 2009 at 7:50 AM Rating: Decent
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3,229 posts
I think it depends on what you are selling as well. I ended up at one point with 14 pristine black diamonds. Although tempting I'm not going to stack them as the chances that someone will buy the lot are slim. However, why people do not stack infinite dust is beyond me. I needed 40 for my massacre enchant.

What a painful day that was.
#31 Feb 11 2009 at 9:45 AM Rating: Good
45 posts
RobbyFaces wrote:
My complaint with people selling on ah is the bulk listers. These tards need a spanking. Why do they take 100's of a fast selling/indemand/stackable item like dusts, ores, bars, cloths, leathers, etc. and list them in singles?

I think they do that in an effort to skew prices for those of us who use helpers, such as Auctioneer. By putting up many auctions at very low or very high prices, they could drive it down or up. Now, I'm not sure that Auctioneer looks at just the number of auctions or if it takes the number of items in a stack into consideration, too. If it works like they think, it will move the median price. Of course, there are others who are listing at 300 to 1000 percent of median, which drives it the other way. Quixotic of them, isn't it?

One thing I've noticed is that very few people list auctions with useful amounts. I don't know how many times I've bought stacks of Saronite bars at up to 60% and when I re-list stacks of 4 at 95%, they sell out within the hour. A couple of times, they've sold out before I get out of the AH.
#32 Feb 13 2009 at 5:48 PM Rating: Default
I think there's alot out there that reads way to much in to the name, unfortunately.
#33 Feb 15 2009 at 2:48 AM Rating: Excellent
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2,801 posts
Quote:
I honestly believe those people are speds that are doing it just to annoy and waste the time of buyers as the items that they'll inevitably put 100 singles onto the AH of are items that you're only going to want a single of maybe 5% of the time at most.


Auctioneer has a shift click option that makes it fairly painless to buy mass amounts of singles if need be. Yeah, it takes time, but far far less time than doing it the original way.

As for pulling all these singles out of your mailbox, you really ought to get an addon. I use Mailbox complete. Be warned that Mailbox complete is slightly broken. You'll get an error message when you first start WoW and if you try and send mail. The good news is, you'll only get these errors message once per session. Anyway, Mailbox Complete takes all the mail out of your mailbox with a single click. No more clicking over and over again. There are other things like Mailbox Complete, so look around for one. It'll save you lots of time.

@Goggy: When I said diversify, I didn't mean you HAD to go to an alt. You can diversify with Blacksmithing and still find decent profits. Its just a matter of doing a little homework. If X isn't going for a decent profit margin, move on to Y or Z.

Quote:
We need lessons in economics?... thats a laugh!

I, like anyone else want to make money but quite honestly am sickened when I log in and see outrageous prices on easy to craft items because somebody bought up every one of them and repriced all for a rediculous amount. Call it capitalism but quite often its more like extortion!

I can't play 24 hours a day or wait for a better price to appear, I work for a living.

All you whiners drive the prices up so high that nobody who doesn't actually buy gold with real money or spend 20 hours a day playing, could possibly ever afford to buy.

I undercut all the time because of all of you greedy folks out there. You know who you are. Your in a captive economic environment and take totally outrageous advantage of it, THEN cry like babies when you get undercut.

Quit whining and deal with it. If you lower your prices to a reasonable amount you'll sell more and drive the extortionists crazy!

Just like me!


1.) That's exactly what capitalism IS. Free markets are run almost entirely on supply and demand. If someone is underpricing something (meaning it will sell at a higher price), then people SHOULD by it and relist it. Easy money, and very free market-like.

2.) No one plays 24 hours a day. And most people are impatient so they're not willing to wait either. Try the trade channel, try asking your guild, try your friend's list. There's going to be SOMEone online that can make what you're looking for.

3.) I've never bought gold. And I play about an average of two hours a day. I have more money than I know what to do with. I play the markets, I use auctioneer, and I make sure the stuff I'm producing will sell for enough to get me more money. If you seriously cannot make money in this game, you're doing something very very wrong.

4.) Undercut away. I'll generally undercut right back, if I'm making a profit. And if I'm not, neither are you. I can wait till your stock clears. When it does, mine goes right back up at whatever the market will bear. Undercutters don't bother me, I'm way to diversified and way too patient.

5.) I'll lower my prices if/when the market says I should. Hmm, those 10 Flasks of the Frost Wyrm have been returned 3 times now? Time to lower the price. Hmm, those 10 Flasks of the Frost Wyrm sold out in 15 minutes? Time to price it a bit higher.

You should bend to the economy, not the other way around. The economy has how many hundreds of thousands of gold being spent daily? No one person can deal with a force of that magnitude. Duck and weave, flow flow flow. Its all about your ability to adapt to change.
#34 Feb 18 2009 at 6:23 AM Rating: Default
Simple:
When wotlk first came out there were not meny people with the recepie/access to the matt etc, as such the price for the items was made atificially high due to scarcety. The price at this point is now driven by the scarcety of the item.

Now more JC/BS etc have leveled and more people have access to those recepie/matts as such the price will fall.

Now as the price falls, some people will leave the professions looking for other more lucrative ones, as such this pushes the price up again therefore making the item more scarce. Now that the prices has gone up more people take up the relevent profession and again this pushes the price down...... this is the steady state, where the price fluctuates up and down as people arive/leave the profession.

The price at which the item fluctuates up or down from is now driven by a the cost (in GC or time) of the matts to get the item and the benifit the buyer sees in the item iteslf (the amount of money that person can earn will dictate who much they value an item relative to the next person - ie if you have 10k gc in the bank you are far more likly to pay the 5gc for the item than if 5gc was all you had).

Complaining that the prices are too low, or are falling to fast is pointless, they are not too low, the market will decide the items value not your opinion/wish. If the item is falling in price then it is OVERPRICED.


Edited, Feb 18th 2009 9:25am by drudesa
#35 Feb 20 2009 at 5:35 AM Rating: Good
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3,229 posts
I disagree, when people have little value in something then they can sell it for what they wish. If they had real money invested in it, they would not dream of putting it on the AH for 1/2 or a 1/3 of the price.
#36 Feb 20 2009 at 3:31 PM Rating: Excellent
The Great Goggy wrote:
I disagree, when people have little value in something then they can sell it for what they wish. If they had real money invested in it, they would not dream of putting it on the AH for 1/2 or a 1/3 of the price.

When something has been sitting in my AH inventory a long time, I'll get rid of it by putting it up at half price. That allows the people who think "why do they do this" to buy it and put it up at full price so that it can sit in their inventory instead. Let them get nibbled to death by the AH fees, instead of me. This actually ends up being a gold-neutral transaction, since it's selling time I spent gathering the item in the first place. I end up making a little less on that item, but I have enough variety on the AH that the other stuff makes up for it. If it turns out that whatever it is doesn't sell when I put it up at half-price, then I vendor it. Think of it as an "inventory clearance sale".
#37 Feb 21 2009 at 10:11 AM Rating: Decent
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363 posts
If there's an item which is rarely for sale, like these shoulders were at one point, and someone new has just started making them, they're going to set their own price. Without access to the market information the experienced seller has, sellers of rare goods have a hard time determining price. How are they supposed to know you sold those one at a time for 150g? Their banker sits at the AH searching all night? That's not reasonable for most players.

If you're going to post one item at a time or arrange to be the only seller of an item, you are not creating a real market and you're not in a position to talk about supply and demand, you have a monopoly. Good for you, it's not going to last.

If you're selling something which is always available and someone undercuts the market, flip it for easy profit and stop complaining... they handed you a gift.
#38 Feb 21 2009 at 12:24 PM Rating: Decent
Just got a great example of this problem -

My alchy is leveling by xmuting saronite bars into titanium - been scoring the saronite for around 2g each and the titanium has been averaging just shy of 30g so while I'm not exactly making a fortune each day (elixer spec so no xmute proc) its a nice little bonus.

Went to toss up another titanium bar the other day and I see that myself and the others who were selling for 30ish gold still have our stuff up and the new bottom price is 18ish - no prices in the middle to show the bid-down - just someone jumping from 30ish to 20ish and the normal undercutting from there.

Edit: Decided to pop in real fast to knock out my daily xmute - titanium is now down to less then 15g.

Fortunately, I'm skilling up every xmute still (yellow right now) so the reality is that if I break even or even lose 1g or so per point at this level, I'm still ahead of the game - feel bad for those who need the gold though.

Edited, Feb 21st 2009 3:30pm by rusttle
#39 Feb 22 2009 at 5:34 AM Rating: Default
Caia wrote:
One word: Diversify.

This happens in real life economics all the time. If you're selling one thing and you competition undercuts you, you go out of business, and then they raise prices. However, if you're selling many things (preferably in different markets), then it becomes much harder if not impossible for your competition to do that to you.

My main is an Alchemist. Up until this week I had a near lock on some of the high end elixers. Now the market is flooded. But, the market on dusts and essences is way up since two weeks ago. I log on to my Enchanter and make a killing.

Money is easy to make, but you have to flow with the market.


exactly. the thing that some people don't understand is supply and demand. that's why game's economies fail. if someone is churning out 100 items a day then the people that want that item are not going to worry as much as if there was only 10 or 20 of the item comming into the AH.

Caia is exactly right in every way.
#40 Feb 24 2009 at 9:11 AM Rating: Good
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1,606 posts
I think the problem is partly that it sounds like many of you play the auction house. For some, it's a mini game inside of WoW, while for others it's only a tool.

I think for some the question is as simple as "Am I selling this for more than I spent making/finding/whatever it?"

The rest is gravy.

There are some things I find that I am often undercutting on. Lower level armor can be ridiculous at times. I remember seeing level 10-40 "of the monkey" costs 10s and sometimes hundreds of gold. I know it's because of the twinks but it's sad when a green level 28ish "of the monkey item" costs 50g+.

I take issue to comparing WoW's (or any game's) economy to the real world market. There are no repercussions for anything we do in this game. If I have exactly 150G 25S 6C to my name and I decide to buy something that is 150G 25S 6C, I haven't lost anything. There is no repercussion for doing so. I can go right from the AH and run outside and start killing monsters or mining or whatever to start making the gold back. I won't be unable to pay my electric bill or buy food or any of the other things that influence IRL decisions. You can spend insane amounts of gold for stuff because it doesn't matter what you spend. That's not really a free market. It's a pretend market. Even in a free market, people are mindful of what they spend and that can often lead to controlling what people sell stuff for. That doesn't necessarily exist here.
#41 Feb 25 2009 at 3:24 PM Rating: Excellent
45 posts
MrTalos wrote:
I think the problem is partly that it sounds like many of you play the auction house. For some, it's a mini game inside of WoW, while for others it's only a tool.

I think for some the question is as simple as "Am I selling this for more than I spent making/finding/whatever it?"

The rest is gravy.


Yes, it is true. Some of us do play the auction house. I, for one, find it to be a very fascinating mini game. I enjoy it. Some days, I don't even bother with the same old "kill the monster, take the treasure" or "Get me 20 giant sewer rat tails." Instead, I go play "What kind of deal can I find today?".

MrTalos wrote:
I take issue to comparing WoW's (or any game's) economy to the real world market. There are no repercussions for anything we do in this game. If I have exactly 150G 25S 6C to my name and I decide to buy something that is 150G 25S 6C, I haven't lost anything. There is no repercussion for doing so. I can go right from the AH and run outside and start killing monsters or mining or whatever to start making the gold back. I won't be unable to pay my electric bill or buy food or any of the other things that influence IRL decisions. You can spend insane amounts of gold for stuff because it doesn't matter what you spend. That's not really a free market. It's a pretend market. Even in a free market, people are mindful of what they spend and that can often lead to controlling what people sell stuff for. That doesn't necessarily exist here.


Really? What happens if you are in a raiding guild with a raid scheduled in 10 minutes, or even want to go on a PUG raid, and you spend your hypothetical 150.25.6 on a vanity pet without buying raid buffs, supplies and armor repairs? Does the PUG raid allow you to come along? Not unless they are really nice people. A raiding guild would probably call your dedication into question, and if you did it more than one or two times, you might just find yourself without a guild. I'd call that a pretty serious in-game consequence. Players of this game have expenses that they have to take into consideration, if they want to experience all the in-game content.

Raiders have buffs, supplies and repairs.
PVPers have buffs, and equipment (not sure if they have repairs, also)
Non-raiding PVEers have equipment to buy, repairs and sometimes buffs.
Anyone who wants to get to certain places in Northrend needs a flying mount and winter flying.
Yes, these are all pretend items that are bought with pretend gold. That pretend gold is gotten with real time. I, for one value my time, and want some return on it. That is why I don't go and buy much of the bling that is out there, and focus on the items my characters need, and most players do the same.
#42 Feb 25 2009 at 7:29 PM Rating: Decent
I generally will undercut whatever price is listed, just to sell the item. I don't buy my mats on the AH, I gather them myself. I have a herb/mining char, a tailor/alch char, and an ench/scribe char. I also have an engy but I'm embarassed about that one.

The things I do in-game, I do for fun. I enjoy running around picking up herbs and ore -- I found 5 titanium nodes this morning and it was great. I'm saving up a stockpile of titansteel bars made by my rogue and I'll sell them probably in a lump of 20 just to get a big chunk of gold all at once. All of my ink pigments for scribing is gathered, as are my alchemy mats. I just made 4 Flask of the Frost Wyrm (whatever its called) for my priest for raiding this week and part of next from my mats, and made some extra flasks to sell of other types for 50g each (undercutting the prices, too).

What I'm saying is that the gold has no value to me because I'm already playing the game and having fun, and that is where my profit lies. All of the gold is just a byproduct because I don't pay anything for it other than my game time. I'm happy to drive down the price of a market and then hold my stuff for a while -- I don't cut it in half but I'm always pushing it down.

Everything you say is true about economics, but as others pointed out earlier it doesn't make any sense to compare the real world to the WoW AH because the motivating factors are different.

Now granted, most people don't have 450 skill in all those professions that I do, but I wonder how many do, and how many might have the same philosophy that I do?
#43 Feb 27 2009 at 7:59 AM Rating: Good
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1,606 posts
Zuriche wrote:
MrTalos wrote:
I take issue to comparing WoW's (or any game's) economy to the real world market. There are no repercussions for anything we do in this game. If I have exactly 150G 25S 6C to my name and I decide to buy something that is 150G 25S 6C, I haven't lost anything. There is no repercussion for doing so. I can go right from the AH and run outside and start killing monsters or mining or whatever to start making the gold back. I won't be unable to pay my electric bill or buy food or any of the other things that influence IRL decisions. You can spend insane amounts of gold for stuff because it doesn't matter what you spend. That's not really a free market. It's a pretend market. Even in a free market, people are mindful of what they spend and that can often lead to controlling what people sell stuff for. That doesn't necessarily exist here.


Really? What happens if you are in a raiding guild with a raid scheduled in 10 minutes, or even want to go on a PUG raid, and you spend your hypothetical 150.25.6 on a vanity pet without buying raid buffs, supplies and armor repairs? Does the PUG raid allow you to come along? Not unless they are really nice people. A raiding guild would probably call your dedication into question, and if you did it more than one or two times, you might just find yourself without a guild. I'd call that a pretty serious in-game consequence. Players of this game have expenses that they have to take into consideration, if they want to experience all the in-game content.

Raiders have buffs, supplies and repairs.
PVPers have buffs, and equipment (not sure if they have repairs, also)
Non-raiding PVEers have equipment to buy, repairs and sometimes buffs.
Anyone who wants to get to certain places in Northrend needs a flying mount and winter flying.
Yes, these are all pretend items that are bought with pretend gold. That pretend gold is gotten with real time. I, for one value my time, and want some return on it. That is why I don't go and buy much of the bling that is out there, and focus on the items my characters need, and most players do the same.

I know. I even agree with it but you will always know, at the minimum in the back of your mind, that you will still be able to get by. Will you be unable to feed yourself IRL because of spending your last gold? Will you be unable to pay rent/mortgage because you bought the vanity pet? There just aren't the same concerns in a game that there are IRL.

Those concerns (ie being able to afford food, shelter, etc) play a major role in our purchasing habits. Those problems don't really exist in a game. There are their virtual counterparts but they don't hold nearly the same weight. That's why I don't like the comparisons between a games economy and a real one. The most important influences that exist in our real decision making processes don't exist or don't carry nearly the same weight in a virtual world. I usually try and be frugal with my in game purchases. I try not to spend willy-nilly but when something comes along and I decide that I must have it (even if it leaves me broke) I can do so with out nearly the concerns a similar decision IRL would involve.
#44 Feb 27 2009 at 3:00 PM Rating: Decent
Quote:
Really? What happens if you are in a raiding guild with a raid scheduled in 10 minutes


The responsible raider already has his gear fully repaired and all the components/ammo he needs to do buffs anyway (if you aren't responsible then you stop getting invited anyway).

If you go to the raid broke the trash and bosses will pay enough via cash and vender bait to handle repairs.

If the raid wipes so many times that you need a full repair before you've even hit the first boss then you should bail anyway. Smiley: wink

I do agree that the idea of spending every last coin you've got isn't all that smart - stuff happens in game same as RL so having a few bucks in your pocket is always a good idea 'just in case' plus, its not free to take the WoW public transportation system.
#45 Feb 27 2009 at 4:28 PM Rating: Decent
MrTalos wrote:
I take issue to comparing WoW's (or any game's) economy to the real world market. There are no repercussions for anything we do in this game. If I have exactly 150G 25S 6C to my name and I decide to buy something that is 150G 25S 6C, I haven't lost anything. There is no repercussion for doing so. I can go right from the AH and run outside and start killing monsters or mining or whatever to start making the gold back. I won't be unable to pay my electric bill or buy food or any of the other things that influence IRL decisions. You can spend insane amounts of gold for stuff because it doesn't matter what you spend. That's not really a free market. It's a pretend market. Even in a free market, people are mindful of what they spend and that can often lead to controlling what people sell stuff for. That doesn't necessarily exist here.

If all you have is 150 gold + change, you have no business buying a vanity pet. Sorry, but it works a bit like real life - you don't go buy a show poodle without enough left over to feed yourself (much less the pet). I consider anyone who is raiding and only has 150 gold so poor at making gold that they should go to Ironforge and beg on the AH bridge for better reputation. Perhaps it's because of spending habits like this.
#46 Feb 28 2009 at 9:33 PM Rating: Excellent
45 posts
MrTalos wrote:
Those concerns (ie being able to afford food, shelter, etc) play a major role in our purchasing habits. Those problems don't really exist in a game. There are their virtual counterparts but they don't hold nearly the same weight. That's why I don't like the comparisons between a games economy and a real one. The most important influences that exist in our real decision making processes don't exist or don't carry nearly the same weight in a virtual world. I usually try and be frugal with my in game purchases. I try not to spend willy-nilly but when something comes along and I decide that I must have it (even if it leaves me broke) I can do so with out nearly the concerns a similar decision IRL would involve.


I agree with you on the weight of in-game expenses vs. real world expenses. What I was trying to do was point out (poorly, I admit) was that the in-game economy still followed basic economic principals. It may not be a perfect match with the real world, but those principals can be used to explain why some prices are high and some are low. The points you bring up are modifiers to those principals, but do not negate them.
#47 Feb 28 2009 at 9:41 PM Rating: Excellent
45 posts
The rusttle of Doom wrote:
The responsible raider already has his gear fully repaired and all the components/ammo he needs to do buffs anyway (if you aren't responsible then you stop getting invited anyway).

If you go to the raid broke the trash and bosses will pay enough via cash and vender bait to handle repairs.

If the raid wipes so many times that you need a full repair before you've even hit the first boss then you should bail anyway. Smiley: wink

I do agree that the idea of spending every last coin you've got isn't all that smart - stuff happens in game same as RL so having a few bucks in your pocket is always a good idea 'just in case' plus, its not free to take the WoW public transportation system.


Thank you. That is one more bit of information for me to keep in mind when I finally get around to raiding. (No, I'm not being sarcastic. I'm a newb. I've also turned into an econ geek since taking Macro last semester.)
#48 Mar 03 2009 at 8:05 AM Rating: Decent
Quote:
I'm not flooding the market, making about 1 a day and they are selling. I come to list another pair last night and low and behold there's two sets on the AH, from the same person, selling for 75g. I understand that people will want to undercut the market so that their item sells first, but dropping the price by 50% just seems ridiculous.


This is called Capitalism. It is working as intended.


#49 Mar 04 2009 at 3:11 AM Rating: Default
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3,229 posts
puxohe wrote:
This is called Capitalism. It is working as intended.


I think your definition is a little off.
#50 Mar 04 2009 at 5:57 AM Rating: Decent
Quote:
Quote:
This is called Capitalism. It is working as intended.



I think your definition is a little off.


Main Entry: cap·i·tal·ism
Pronunciation: \ˈka-pə-tə-ˌliz-əm, ˈkap-tə-, British also kə-ˈpi-tə-\
Function: noun
Date: 1877
: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

Is the WoW economy regulated? No. Therefore it is a pure capitalist market.

If you have a problem with it move to russia.

#51 Mar 04 2009 at 6:02 AM Rating: Default
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3,229 posts
There's no real loss in WoW, so it doesn't work in a true capitalist fashion. People sell their items for prices which would not work in a real-world scenario. Furthermore, the test for capitalism is for a "profit", so your quotation from whatever on-line dictionary you found is off as well.

I'm happy'ish in the UK.

Welcome to the boards.

Edited, Mar 4th 2009 9:04am by Goggy
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