Compensating differences abound. Even though chuck steak is less preferred, it outsells filet mignon. Less-preferred Toyotas compete effectively with Mercedes-Benzes. Costume jewelry competes with fine jewelry. In each, the lower price compensates for the difference.
It is a sad commentary on the state of political life in the United States that our political conventions have become more like rock music festivals than competitions of ideas.
Intellectuals and political hustlers who blame the plight of so many blacks on poverty, racial discrimination and the "legacy of slavery" are complicit in the socio-economic and moral decay. But one can earn money, prestige and power in the victimhood game.
As long as the Federal Reserve is allowed to manipulate the value of money and support the welfare-warfare state, we will never have a truly free market or a free society. Therefore, all those who seek liberty, peace, and prosperity should join the effort for a Fed-exit.