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Fiz - I haven't read much directly of Adam Smith 

By: Zimbler0 in 6TH POPE | Recommend this post (2)
Wed, 21 Sep 22 11:09 PM | 33 view(s)
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Fiz - I haven't read much directly of Adam Smith

#msg-1212137
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I remember Adam Smith from basic economics. His 'invisible hand' and how free markets will set prices the most efficiently.

Riddle me this batman. Go back forty years or so ago . . . Why is it that Russia had bread lines and shortages of goods while American supermarkets had shelves groaning with breads and all manner of other goodies.

The correct answer is that Russia's government controlled economy blew chunks. While America's capitalists were falling all over each other trying to produce stuff American consumers wanted to buy.

Think about it. If one has three (or more) suppliers competing to sell one something useful or necessary . . . The one with the best or cheapest (or combination there-of) product will get the sales.

Zim.




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