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Started By
Message
re: Obama: Extending Unemployment Benefits “Creates New Jobs”
Posted on 1/8/14 at 9:42 am to Korkstand
Posted on 1/8/14 at 9:42 am to Korkstand
quote:
Quick, name a consumer good that will be produced without consumer demand to drive its production.
All novel goods are produced without a demand. You didn't know you needed an iPhone until it was produced. You were fine with your old flip phone. You didn't know you needed Windows on your computer, you were doing fine with MS DOS.
1
Posted on 1/8/14 at 9:56 am to GumboPot
quote:
All novel goods are produced without a demand. You didn't know you needed an iPhone until it was produced. You were fine with your old flip phone. You didn't know you needed Windows on your computer, you were doing fine with MS DOS.
Demand for a novel good is definitely there before it is produced. Tons of money is poured into research to calculate this demand before production begins.
But in order for there to be demand, consumers must have money.
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