In response to:

LA Times Demonstrates Liberals Cluelessness About Basic Economics

Jay Wye Wrote: Dec 14, 2012 4:11 PM
"once you make vegetables cheaper, you also make it less profitable to produce vegetables." not necessarily;they may be cheaper because of a rise in production efficiencies. thus there's more of them at a lower cost. it's HOW the price is set that matters.(and by who sets the price..)

There are a few irrefutable laws of basic economics that are understood by practically everyone. When the price of a good rises, people will buy less of it. This is common knowledge to anyone who has bought anything ever. There is also the law of unintended consequences which states that actions, laws, and policies often have secondary effects that differ from the original actions intentions. We have seen this inevitably played out in most laws passed by Congress. Both of these ideas have been around for thousands of years and the father of economics, Adam Smith, articulated them himself...