Our market economy is driven by the fundamental concept of supply and demand, e.g. how much of a product the market can offer correlated with the amount of that product the public is willing (or able) to buy at a certain price. Or, as Dr. Pinckney Walker described so eloquently here in his 1950s Econ 101 class, the number of widgets and digits available combined with customer desire determines not only the price but also the replenishment factor.
Regarding unemployment, government must get back to economic basics
To read the full article, please sign up or login.
Get full access to the Columbia Missourian on your computer, phone, and tablet for just $5.95 per month.
* All the high-quality, in-depth journalism of the Columbia Missourian and Vox Magazine, updated 24/7
* Your news. Your device. Your time.
If you'd like to read more about the value of being a member, read this column from the Missourian's executive editor, Tom Warhover.