This column contains everything there is to know about economics. Hereafter it will be possible to shut down university deprtments and stop talking about Keynes and the Austrian School, to the great relief of mankind. In gratitude you can send me your childrens'college funds.
In 1850 people all lived on farms and grew food, which they ate. Eating was really important to them. They liked eating. There was in 1850 tremendous demand for refrigerators and cars, but people didn’t know they wanted these things because they hadn’t been invented. Anyway, they didn’t have any money to buy them with.
Yet the demand was there, crouched to spring. Much demand for almost everything, but little supply.
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