The validity of Say’s Law stands as the gatekeeper of economic freedom and prosperity. Without it, economic fallacies justify state force, which is multiplied in the name of public salvation.
In this episode, the king’s magic money box runs dry and he is forced to provide real services in the economy, at which he fails miserably. In the end, the good people decide it is better for the king to stick to frivolous ceremonial affairs.
This article of mine was first published in the third-quarter 2015 edition of Personal Finance magazine. When you add up all the transactions each month of South African importing and exporting businesses, you will currently find that more is bought from businesses overseas than is sold to businesses overseas. This is commonly known as a […]
This is a provocative and compelling piece. It challenges the established dogma of economies of scale and makes a case for the economic competitiveness of the small-scale entrepreneur that is demand-responsive rather than the large-overhead producer that produces without regard to preexisting demand.