|Photos courtesy of CNN's Patrick Oppmann.|
I'm not an economist, so can an economist please explain the above pricing scheme to me? (See link to BBC article below).
- The good ole law of supply (very limited) and demand (altísima)?
- Monopoly pricing?
- A special deal with Geely, whose new cars are much cheaper (see second photo above) at a mere $42k?
Talk about two steps forward and one step back! But I assume these prices will drop over time as happened with cell phones.
Still, I guess this just proves the most savage form of capitalism is found in (formerly) socialist countries...
BBC Mundo - "El exorbitante precio de los autos en Cuba: hasta US$262.000 por un Peugeot"