Archived Say's Law: The Antidote to Countless Economic Fallacies (mises.org)
submitted ago by daskapitalist
Posted by: daskapitalist
Posting time: 3.8 years ago on
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Archived on: 5/18/2017 10:00:00 AM
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Archived Say's Law: The Antidote to Countless Economic Fallacies (mises.org)
submitted ago by daskapitalist
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[–] greycloud 0 points 2 points 2 points (+2|-0) ago
i like how simple this makes things. i agree, demand needs to be filled. when state steps in and bans a product that is in demand (lets say relatively harmless drug X) than this creates a black market for the demand to be filled. the state may try to crack down on this black market, but the state is now the aggressor and is acting like a tyrant. rather the demand should be filled with something that the market finds adequate at filling the demand (perhaps drug X has complications, but drug Y can be used to fill the demand).
instead of attempting to ban demand, we should be looking for alternative ways to fill it when the demand causes social harm.
[–] daskapitalist [S] 0 points 3 points 3 points (+3|-0) ago
Tesla is a really good example of this. Instead of trying to ban or restrict gasoline engines, they're improving battery technology and electric cars to make them so appealing that consumers are lining up to buy them voluntarily.