In response to:

Understanding Economics

onthepulse Wrote: Sep 26, 2012 11:44 AM
Yes, Dr Sowell's book, "Basic Economics". This book should be required reading in high school. The book is very easy to read without lots of formulas and charts. BTW, if you haven't read it, I would recommend it to you as well.
Here's a question: If there's a disaster, a war, a severe drought or some other calamity that restricts future supplies of a commodity -- such as oil, coffee or corn -- what is the intelligent thing for people to do right away? If you said "use less now and try to produce more," you'd be absolutely correct. That's not rocket science, but understanding the machinery involved in getting people to do so is a bit more challenging.

The best way to get people to use less and produce more is to allow prices to rise. For example, say a...