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Saturday, March 26, 2011

Let's Talk Economics; Words to Stimulate the Mind (Part 1)

       Supply Side Economics is founded on a methodology that implicates the importance of production, investment, incentives and of individual initiative, according to classical economic theory.  It's the production that limits the satisfaction of the human demand, in accordance with the law of Jean-Baptiste Say, a French Economist, where the goods are recompensated with other goods.  So it is not the capacity to consume that limits the satisfaction of human demand.  According to Say, "the object of a good government is to stimulate production and a bad government to encourage consumption."  Similarly, John Stuart Mill said "that which makes a country rich is not consumption, but production."       


          "Supply-Side Economics" est fondée sur une méthodologie qui implique l'importance de la production, de l'investissement et de "l'incentive" et de l'initiative individuelle, selon la théorie économique classique.  C'est la production qui limite la satisfaction de demande humaine en accordance avec la loi de Jean-Baptiste Say, un économiste francais  les biens sont recompensées avec d'autres biens.  Et ce n'est pas donc la capacité de consommer qui limite la satisfaction de demande humaine.  Selon JB Say, " le but d'un bon gouvernement est de stimuler production et d'un mauvais gouvernement d'encourager consommation."  Vraisemblablement, John Stuart Mill disait que "ce que rendre un pays riche n'est jamais consommation, mais production."

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