Almost everyone seems to be opposed or at least guarded about the government becoming engaged in more services. There seems to be a general assumption that it will be badly run, or simply bad. However, in thinking about it, it seems that when we remove our own political beliefs or objectives from the equation, it becomes more difficult to really gauge the effectiveness of this process.
In considering some of the comments made on the original posting, I realized that there were some variations and refinements in discussing supply and demand that warranted additional consideration.
In light of those comments, let me refine the definition of the "Law of Supply and Demand" as an equilibrium law which attempts to explain the various paths either "supply" or "demand" may take based on the perceived imbalance in that state of equilibrium. This is usually expressed as
In reading some posts regarding health care reform, someone made a comment that struck me as unusual regarding the pharmaceuticals, namely that they had a right to make a profit too.
What an interesting phrase; "a right to make a profit". Of course, it isn't even remotely true. Companies aren't even guaranteed a right to be in business, let alone make a profit. One could argue that companies are entitled to make whatever profits they may without interference from the government, but then why should a company have a right that isn't available to ordinary citizens? So where does such a phrase come from and what does it mean?
Individualism is the political philosophy or ideology that emphasizes independence and self-reliance. Individualists advance the idea of realizing one's goals and desires, while opposing most external interference upon those objectives, by society, or any outside agency.
Collectivism is a term used to describe any perspective that stresses human interdependence and the importance of a collective or group, rather than the importance of separate individuals. In this view, the emphasis is on community and society, and priority is given to group goals over individual goals.
This is an oft mentioned safety rule that one should employ when driving to ensure an adequate distance is maintained with the vehicle in front of you. When conditions are wet or icy, the rule has been extended to recommend four seconds and up to 10 seconds respectively.
This effectively fixes the traffic volume to a constant arrival rate regardless of the speed of the vehicles. In other words, it presumes to maintain a constant flow of traffic despite the variations in individual drivers and makes the traffic volume absolutely dependent on the number of traffic lanes available.
Since we have a fixed arrival rate of 1 car every 2 seconds (per lane), then we can calculate how many vehicles per hour a road can handle.
Let’s examine the demand side of the equation a bit more and explore the impact that credit has on an economy.
There is no question that credit can provide a smoother flow of money through an economy to ensure that periodic starts and stops aren’t affected by variations in the cash flow. This is particularly important to ensure smooth operation in many companies as well as for individuals.
Equally there is no question regarding the usefulness of credit for large capital expenditures that would otherwise be impossible to obtain, typically housing, cars, etc.
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