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Exactly. If economic growth was just like microbe growth in a petri dish, sure, a simple equation would suffice. But people choose and act based on their own th
by Rumford 11y ago
Exactly. If economic growth was just like microbe growth in a petri dish, sure, a simple equation would suffice. But people choose and act based on their own thoughts, opinions, and goals, and they are always readjusting to new input and information. Economics can tell us reliably that if you add supply, you press the price downward. What economics can't tell you is what crazy and amazing things the humans will do in response to that.