Friday, November 4, 2011

Chicken or the Egg?

There is an important question at the heart of economic debate. Which is more important: supply or demand?

At first blush, you would think demand. Without it, your product/service has no market and the work put in to develop it was for naught. But, that should have you wondering, where does demand come from? Well, someone else had to produce something of value in order to earn a wage, the means by which they can buy/demand your product, creating the incentive for you to labor away and forgo leisure. So maybe supply does lead in this dance.

Simply put, it's complicated and the answer is nuanced. But in the forum of economic thought, each side seems convinced of their position. I beg to differ.

Broken Money

The subtitle is Why Our Financial System is Failing Us and How We Can Make it Better , and the author is Lyn Alden (2023). I feel like I hav...