In a recent column Ben Stein quotes Peter Flanigan's formulation of an economic axiom:
| There is no such thing as scarcity and no such thing as surplus. There is only price. |
(cf. New York Times 11 Sep 2005, "After Katrina, Invest in Oil, but Shut Off the A.C." by Ben Stein; cf. MoneyWisdom (20 May 2001), EinBenStein (19 Sep 2002), ...)
TopicEconomics - TopicScience - 2005-09-13
(correlates: EinBenStein, RootingForTheYankees, SecondLargestInvestment, ...)