Friday, September 10, 2010

Econ 101



A shift in demand quite suffices,
With a given supply, to raise prices;
This idea, though descriptive,
May not be prescriptive,
To guide one to virtues from vices.   


Thanks to James Kwak for provoking a passionate debate on the ethics and economics of scarce resources in his blog, The Baseline Scenario.
Posted by Dr. Goose
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