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Understanding Economics

WodenofAzgard Wrote: Sep 27, 2012 10:38 PM
"Walter Williams and Thomas Sowell are smarter than all liberals and socialists combined." - Kerry This doesn't bother you? "The founders of our nation held a deep abhorrence for democracy and majority rule." - Walter Williams How do you reconcile that with this? "The fundamental principle of the government is that the will of the majority is to prevail." --Thomas Jefferson to William Eustis, 1809. And this - "And where else will [Hume,] this degenerate son of science, this traitor to his fellow men, find the origin of just powers, if not in the majority of the society? Will it be in the minority? Or in an individual of that minority?" -- Thomas Jefferson l Or do you just blank 'em out like the typical rightwinger?
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...