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Supply side economics - against which the Luddites railed - is predicated upon the notion that it is better for the individual to adapt to hardship in an age of
by bmh_ca 9y ago
Supply side economics - against which the Luddites railed - is predicated upon the notion that it is better for the individual to adapt to hardship in an age of plenty than to create scarcity by imposing hardship on production.
- datashovel 9y agoDoes this philosophy also assume the wealthiest won't try to manipulate scarcity in order to gain more wealth?
- golergka 9y agoAll sides manipulate everything they can to gain more wealth. But as the parent comment says, not every possible manipulation is rational.
- datashovel 9y agoIs the only rational manipulation that which makes me more wealthy?
- tomrod 9y agoYes, if that manipulation is driven by you, and if "wealth" satisfies your subjective preferences. So it could be money and assets, or accomplishments, or relationships, and so on.
- RobertoG 9y agoNot really, supply side economics is predicated upon 'Say's law': the notion that supply create its own demand. A notion that have been rejected in mainstream economics since the 50's.