But even there, the 'response' of demand to supply is simply to suck it up,
given our theorized rapacious consumptive behaviour.
"Forstater, Mathew" <[EMAIL PROTECTED]> wrote: >She
described the ideology as viewing supply's influence on demand as akin to the
moon's pull on the tide. This is about >as wrong as can be. If supply and
demand are not independent the entire neoclassical model collapses. From where
did >she pull this analogy?
She must have supply-side macroeconomics in mind, not technical
micro-economics? If so, her description is not that out of line. The economy
doesnt work that way, but that is more or less how the supply-side doctrine
treats it. Mat
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