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Demand is constituted by supply.

Posted on: November 15, 2017 at 12:13:07 CT

ummmm MU

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M.O.B. Votes:

This is the most basic principle of economics, and one that desperately needs to return to prominence among the ivory tower academics and politicians.

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MESSAGE THREAD

Clearing up some common misconceptions - pickle MU

- 11/15 11:24:38

Who cares? (nm) - MUGuy2004 STL - 11/15 13:00:21

Brilliant analysis. Oh, been to Venezuela lately. - GA Tiger MU - 11/15 12:32:50

Venezuela is an example of a government that rebuked - ummmm MU - 11/15 12:41:14

WADR: #3 is not correct - ScottsdaleTiger MU - 11/15 12:03:40

Monopolies are either direct govt. creations or indirect - ummmm MU - 11/15 12:11:27

That ignores scarcity of resources (nm) - DC Jayhawk KU - 11/15 12:28:11

Then we are really getting into the weeds and we could - ummmm MU - 11/15 12:31:43

I'd have to think about that. - DC Jayhawk KU - 11/15 12:37:45

That does not constitute a monopoly (nm) - pickle MU

- 11/15 12:53:03

How would you define a monopoly? - DC Jayhawk KU - 11/15 12:59:59

But that doesn't mean that aluminum doesn't have any - ummmm MU - 11/15 12:40:04

All three points are correct - pickle MU

- 11/15 12:08:27

"dominant market share is not a monopoly" - - 90Tiger MU - 11/15 12:06:20

Production for the sake of production is wasteful - MrBlueSky MU - 11/15 11:29:33

That's a different issue. - ummmm MU - 11/15 12:12:26

He doesn't understand that demand drives production - Spanky KU - 11/15 12:01:49

Demand is constituted by supply. - ummmm MU - 11/15 12:13:07

no spanky, VHS isn't produced because someone advanced - 90Tiger MU - 11/15 12:03:24

But what if someone kept producing VHS tapes? - Spanky KU - 11/15 12:06:43

The concept that production precedes consumption - ummmm MU - 11/15 12:18:18

Nah.. It's just a von Mises concept - Spanky KU - 11/15 13:43:01

No, it's a classical concept of economics - ummmm MU - 11/15 13:45:22

And then also consider this: - ummmm MU - 11/15 13:46:17

no, production of something people want will. there - 90Tiger MU - 11/15 12:09:32

So THAT'S what cucumber meant to say - Spanky KU - 11/15 12:16:26

Demand is constituted by supply. - ummmm MU - 11/15 12:20:32

Demand is satisfied by supply - Spanky KU - 11/15 12:24:15

Reread the definition of demand as I have graciously - ummmm MU - 11/15 12:29:40

Can there be 'unsatisfied' demand? - Spanky KU - 11/15 12:47:37

No, there is no such thing as "unsatisfied demand" - ummmm MU - 11/15 12:53:39

Then you are clearly not a businessman or logistician - Spanky KU - 11/15 13:22:43

jfc lol (nm) - 90Tiger MU - 11/15 14:00:09

This is apparently over your head - ummmm MU - 11/15 13:24:34

no, Spanky, he was correct. I'm explaining it in terms - 90Tiger MU - 11/15 12:18:12

consumption is the true economic driver. - Spanky KU - 11/15 12:32:49

On a micro level, sure. - ummmm MU - 11/15 12:40:40

No, that's incorrect (nm) - pickle MU

- 11/15 12:17:13

Holy **** (nm) - pickle MU

- 11/15 12:09:20

it is impressive how passionate he is about remaining - 90Tiger MU - 11/15 12:10:16

This is one of many situations with Spanky - ummmm MU - 11/15 12:23:53

yup (nm) - 90Tiger MU - 11/15 12:47:07

just one word to demonstrate how wrong you are - 90Tiger MU - 11/15 11:31:56

RE: Clearing up some common misconceptions - JG MU

- 11/15 11:28:30

lol - 90Tiger MU - 11/15 12:13:15

We can argue and bicker about why - JG MU

- 11/15 13:05:54