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Photo of the Day: The Trump Effect

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KGxvi7/06/2017 1:32:34 pm PDT

re: #59 calochortus

I have a nephew who is old enough to know better who explained that bit of economic theory to me.
You see, if you have a whole lot of “stuff” out there, people will see it and want it. They will work longer and harder so that they can afford to buy it. He failed to explain why they would want things they didn’t need or like.

A better argument for supply side theory is that if enough businesses make stuff, then consumers will have more money with which to buy things. But that supposes the employer/manufacturer pays its employees (who are also consumers) a reasonable wage (which is something that the modern MBA culture finds apostate).