The Answer To This Mess? Let Supply and Demand Work
Posted 9:42AM on Friday, March 20, 2009
I am not an economist, but as a historian I have great respect for economists who have studied and created theories that explain the ups and downs of free markets. I have become a die-hard believer in the theory of supply and demand, not because I understand it, but because I have now lived four score years and seen it work. <br />
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To put it candidly, when people have a lot of money to spend and goods in the marketplace are scarce, the price rises. With higher prices, people say the heck with that, and quit buying. Then retailers â