Those laws are mathematically true. "Economic laws" are modeled abstractions, being true is relative to their design, not to a natural state.
On 6/21/07, Gassler Robert <[EMAIL PROTECTED]> wrote:
Right-wing economists answer with scarcity, diminishing returns, and the inefficiency of price controls. Scarcity is an assumption, not a law. Diminshing returns gets demolished by new growth theory. That leaves price controls. Big deal. >are there any economic "laws" which are always true, the way the law >of gravity is? > >-- >Jim Devine / "The price one pays for pursuing any profession or >calling is an intimate knowledge of its ugly side." -- James Baldwin > >
