Monday, June 20, 2005
The demand factor,
As much as you hear of supply and demand you may not realize that our economy is a demand economy. The Soviet Union had a command economy where the central government controlled the economic decision making. People in America who wish to earn quick cash are forced to discover what people want. (want=demand) Once a person discovers what people are wanting/demanding then there is an opportunity to make a profit by selling a good or service. My local news paper The Tennessean has a article today about how churches are no longer providing hymnals, but instead using projection screens to provide hymnal words for the church's congregation to sing. That is a result of someone discovering what people want/demand; people like the idea of simply looking at a screen as opposed to constantly flipping pages to find words to sing to. Simply put....we (the people) demand happiness and therefore the Capitalists provide it!