Demand drives the economy.
Supply side economics is utterly inane. Just about the dumbest idea ever. "Let's give rich fuckers more money, so they can give it to the poor!"
Something trickles down alright, but it ain't prosperity!
There have been supply shocks before, but major recessions and expansions are almost always driven by demand.
Ahhh, the classic Macroeconomic argument whether its demand or it's supply that drives the economy. I really don't understand the argument of how supply does, so it must be demand.
Then you you agree that Reagan's Supply side economic experiment was mislead and ultimately failed?
Omg... Redsox actually got one right... Don't tell Reagan!
I think more exceptions to the law of demand and the law of supply arise when looking at a macroeconomy.
Mostly true. Sometimes, as has been the case with oil for a decade, the mere perception of a potential for demand, without any real demand, can drive part of the economy.
Supply and Demand
Sometimes the market drives demand... Like Steve jobs did for Apple.
It doesn't matter how great your product is, if no one wants to buy it, it will fail. Jobs saw a small demand for a good MP3 player and watched it grow....
No, Steve told us how we wanted a phone to work. How we wanted the device that we carry with us at all times to impact our lives. He was right, and Created a demand for something. A demand did not create the iPhone, the market created a demand.
Demand still drove the economy though
No, Jobs saw that smart phones would be huge in the future and wanted it to be his phone that is on top.....