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Wednesday, November 28, 2012

Economics

Here's a couple of observations I extracted from an old column by Steve Sailor.
There's no such thing in a market economy as a "shortage": there is just a price that somebody with political influence would rather not pay.
A basic rule of agricultural economics: a good year for a crop tends to be a bad year for the crop's farmers. When the harvest is abundant, prices go down and the cost of hiring enough labor to pick all the extra produce goes up. Sometimes it doesn't even pay to harvest the full crop.

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