I apologize

You might have noticed that the previous post was even more boring than usual. I apologize. That was actually a school assignment. In writing that, I have completed all but one of my subjects. Thats right. I am one test away from completing high school and two college classes. I'm not even 18. Anywho. I don't say all of this to brag. I just wanted to explain myself.

Not That Simple

The average person probably doesn’t spend too much time dwelling on the subject of economics. Only to swoop in and touch on the subject briefly by boldly stating that the economy has a fondness for taking in vast amounts of air. We blame our problems on the economy. Most people seem to think it should just be “fixed.” As if politicians are immeasurably dense and need to just duct tape the thing already!

                I’m no great fan of politicians, nor do I trust them. But to honestly think that the economy is something that should be fixed easily and quickly is absurd. It’s just not that simple.

                Economics is defined as “The branch of knowledge concerned with the production, consumption, and transfer of wealth.” That might seem like a simple thing to understand. After all, wouldn’t you just need information about how wealth is transferred and goods are produced and consumed? Wouldn’t you be able to twist that system any direction you like, without much effort?

                The short answer is, nope. Economics isn’t just a list of numbers and charts and graphs. It isn’t a set of statistics. Economics isn’t a science ruled by cold, hard facts. It’s pushed and prodded by human desires and emotions, which makes it more stable than any scientific law ever could.

                There are many laws and rules that govern economics. Chief among them is the balance between supply and demand. Supply is the amount of goods or services that a company can produce. While demand refers to how many consumers want those goods and services. The single most crucial thing to keep in mind is that there is always a balance. The market is always pushing to be at equilibrium. It’s striving to even out the supply produced with the demand for that supply.

                A market will always even out the scales between those two forces. Allow me to broaden your understand with a few examples.

                Let’s say for a moment that you have an uncontrollable urge to snack on some spiced ham. You rush into the nearest grocery store and hurry to the aisle where Spam is usually located. It’s not there. You are shocked. Horrified, even. How could this have happened? At that moment your eye catches on the price sticker. It dropped a dollar in price since last week.

                Obviously, dozens of other shoppers saw the drop and took advantage of it. Due to the price drop, demand for spiced ham shot up. And to find equilibrium again, the supply dropped down. To nothing, in your case.

                Now let’s pretend that you go to get some tissues to wipe the tears off of your face after the spiced ham catastrophe. The tissues are there. But you decide you don’t want to buy it. The price for tissues has gone up. You think that twenty dollars per box is an exorbitant price, so you use your shirt sleeve. Now the higher price brought demand down, and as a result the supply is unusually high.

                Price isn’t the only effect though. Maybe it’s quality or the income of a person or even competition. If the prices for chicken go up, people will naturally begin to eat more beef.

                These forces of supply and demand balance out the economy on their own, usually. In some instances though, some regulation is necessary. A common way of controlling a market is by using what is called a “price ceiling” or a “price floor.” They are exactly what the sound like they are. When a price ceiling is set in place, then a product cannot sell for more than that predetermined price. Conversely, when a price floor is in place the price must stay above a certain level.

                The economy then uses other means to balance itself out. When the price is locked in at a certain height, the demand will usually go up. When that happens, supply drops off.

                Another thing that happens is when something has a fixed demand or supply. A fixed demand would be a life-saving drug. It doesn’t matter how expensive that drug gets, people will pay for it. A fixed supply might be a professional sporting event. They only have so many seats and if they run out, then they run out. In that instance, demand will fluctuate greatly.

                All of these factors are only the simplest of the forces that weigh on economics. To cover everything would take years and years of study. In all honesty, many economists do not even fully understand economics and all its subtleties. One thing for everyone to remember is that it isn’t just about money. It’s about human nature. To make economics seem like a simple matter for the sake of politics is foolish. Economics is a cruel science. It doesn’t favor republicans or democrats. It doesn’t choose between conservatives and liberals. It merely tells the truth. It’s up to us to understand it.

If I may be so Italic...

I love italics. I love them muchly. They're just so...tilt-ish.


You know?


I especially love them when they magically appear in a sentence.


Like so...


"The great water buffalo swam across the river and nearly drowned."


That, right there, is a fantabulous sentence. You have adventure, and drama, and more than a hint of sarcasm seeping through the tilted letters.


This is all I had to say about Italics. Tune in next week for my post about bold lettering and a quirky pun in the title. It'll be a real treat.