Jul 08

Buggy Whip Futures

It has come to my attention that there is severe underemployment in the Farrier, Blacksmithing, and Carriage Making and Buggy Whip industries which, left unchecked, could spread to the Street Sweeping, Boardwalk, and Agricultural Productivity Enhancement portions of our economy, potentially disrupting up to 75% of our Gross Domestic Product.

This is a Very Serious Problem, just ask any Very Serious Economist.

Since 1803 we have known the solution to this predicament- it is called Say’s Law and states that Demand for Goods and Services must equal Supply for those very same Goods and Services.

It has to be so since how can you measure value except in specie? While a certain amount can be wrestled from the ground as “new” production, it is but a small fraction of the collected wealth of centuries and this is a good thing for how else can we control inflation? Since the total amount of “money” remains the same the relationship between Supply and Demand has to remain static and fixed.

Thus it follows as night unto day that the solution to our underemployment and other economic woes is to increase Suppy of Buggy Whips and Horse Shoes. Surely if we produce more of these items Demand will materialize because of Say’s Law, thereby stablizing Farrier, Blacksmith, and Buggy Whip employment along with the closely related Street Sweeping, Boardwalk, and Agricultural Productivity Enhancement industries.

And just so we can expect Rick Perry’s proposal to produce more Coal to restore a Century’s worth of job loss in Appalachia by stimulating Demand in non-existant Power Plants and the vanished Steel Industry.

It’s plain old Economics x.01 Beta.