If you’re on this blog, you are probably familiar with Say’s Law that “supply creates its own demand.” In its original formulation, it meant that people could only buy stuff…
If the supply of oil goes up, the price of oil and gasoline falls. If the supply of oranges goes up, the price of oranges and orange juice goes down.…
View in your browser. Over the past several weeks, I have been discussing some of the silliness surrounding the analysis of lower oil and gasoline prices. It was pointed out…
Writing in the latest Forbes magazine, RealClearMarkets.com editor John Tamny contends “economic growth is easy.” The full article is not yet posted online, but you’ll get the sense of Tamny’s…
During the last academic year, Duke University hosted both a lecture by Nicholas Wapshott on his book Keynes-Hayek and a debate about the causes of the Great Depression that featured…
As politicos bandy about the notion of another round of economic stimulus, the following excerpt from the latest edition of Carolina Journal Radio comes to mind. Economist Paul Cwik of…
State governments are stuck in a nutcracker with slowing or falling revenues (from a weaker economy) and rising costs (from expanding too many programs, according to Donald Boyd of the…
In conjunction with Joe’s Law (“Government spending creates its own taxation”) and Say’s Law (supply creates its own demand), I’d like to suggest the following: Tax revenue creates its own…
The short form of Say’s Law is “supply creates its own demand.” In a different context, every dollar the government spends must eventually be covered by a dollar in taxes…
Runs afoul of economic realities, particularly, Say’s Law. In this Wall Street Journal article George Melloan explains why political gimmicks won’t improve things in the long run, but will merely…
First let me reiterate what I wrote to Joe in a private email. My guess is that there would actually be very little demand for such a levee prior to…