Tube Amps / Music Electronics
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|10/23/1998 12:17 PM|
|Andy Ruhl||Re: Are NOS tubes REALLY expensive?|
Ruffled? Nah. I'm not a fan of the CPI I guess and I let it show.
As for market efficiency being fictional, I disagree with that. It's not perfect, but it's far from fictional. It works perfectly in completely liquid markets, and 99% efficient in almost liquid markets (stocks, bonds, foreign currency). For the rest of the world, as long as there is a market and open competition, it works fine (assuming no irrational behavior, as in buying without searching for better prices, subsidies, tarriffs...). The tube market has plenty of people out here selling the same tubes, so the prices stay pretty much even with a few notable exceptions (the tube nazi comes to mind).
Technology plays a part in cost reduction for just about everything. Can't find the cost savings in production? How bout in the overhead? It sure does save on administrative things. This is why I think it's fairly foolish to use indexes to gauge anything. You can even argue that the stock market isn't good to use as a historical example. With computers, the chances of market inefficiency (ie arbitrage) are next to nothing. That wasn't the case 30 years ago. Even the government concedes that the CPI isn't the best form of gauging inflation. They have been discussing changing the array of products within it for a while, but I'm not sure what's happening on that front. I don't follow it closely.
Sorry to go through all this. Finance and Economics are what I do in real life, amps are just pretend. For now I'll keep on fixing them as best I can till I get out of school. Then maybe afte that I'll have enough time to actually work on my own amps again!