November 11, 2008
Markets At Work: Presidental Inaugration Tickets Going For $40,000.
Markets at work, Presidential style. It looks like some tickets to the Presidential Inauguration may sell for as much as $40,000 (tickets are handed out for free by Congressional offices and other connected politicians, donors, etc.) What recession? Anyway, some Senators are trying to ban the resale of these tickets on sites like E-bay, Craigslist, etc. I highly doubt this will stop those who place a high value on tickets from getting them. Whenever you have many people after scarce goods, the price will rise. Read more here.