Walter Block Jokes With Competition Regulators on Pricing

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A nerdy competition joke from the Cautious Optimism Correspondent for Economic Affairs and Other Egghead Stuff.

Walter Block

Loyola University economist Walter Block told this two part joke (for real) before an audience of government pricing and competition regulators/attorneys.

Part one. Three state workers were languishing in the Soviet gulag. As usual they shared stories of what got them in jail.

The first worker said "I came to work late every day and they accused me of stealing state funds."

The second worker said "I came to work early every day and they accused me of brown nosing party bosses for a promotion."

The third worker said "I came to work on time every day and they accused me of owning a western wristwatch."

The audience laughed (really).

Part two. Three businessmen were languishing in an American prison. As usual they shared stories of what got them in jail.

The first businessman said "I charged a higher price than my competitors and they accused me of price gouging."

The second businessman said "I charged a lower price than my competitors and they accused me of predatory pricing."

The third businessman said "I charged the same price as my competitors and they accused me of price collusion."

Nobody laughed.