Wednesday, February 22, 2012

Obama Demonstrates Remarkable Understanding of Economics

PPPS (Littleton) President Obama, in an email letter to supporters yesterday, demonstrated a remarkable understanding of economics and the relationship between demand and price.

Here is the email that one of our readers, Citizen Pete, received from the President.

Peter --

Tomorrow night, we'll pick the first of four supporters who will sit down with me for dinner.

I'm hoping you'll take me up on the invitation.

Donate $2 or whatever you can today to be automatically entered for the chance to be my first dinner guest.

These meals are one simple thing that sets this campaign apart. The seats at our table don't belong to any Washington lobbyist or powerful interest.

These seats are yours.

Donate $2 or more today and be automatically entered to win:

Hope to see you,


Just last summer, dinner with the President was being offered for a minimum donation of $5. Then, in the fall, when Citizen Pete responded to the President's personal email, the minimum donation was set at $3. Now we see that the price has been dropped to $2.

When there is only a limited demand for something, you drop the price to stimulate more demand. What a brilliant strategy the President is employing here. With such advanced economic thinking at the top, there is reason for optimism.

One note of caution: according to Citizen Pete, "the price for dinner with the President will have to drop a ways below $2 before it reaches my price point."

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