I got my driver’s license photo taken out of focus on purpose. Now when I get pulled over the cop looks at it (moving it nearer and farther, trying to see it clearly)…and says,” Here, you can go.” — Steven Wright
The Wal-Mart Stores in 2003 and the Adolph Coors in the Brewing Industry Case Studies are in the Value Vault. If you just want me to email you the cases just write to email@example.com with CASES in the Subject line–you will have them by tomorrow.
Other Items of Interest
Should we re-write the constitution every 20 years as Thomas Jefferson suggested? Check out: http://www.constitutioncafe.org/
How to strengthen willpower. http://artofmanliness.com/2012/01/15/how-to-strengthen-willpower/
Nassim Taleb’s New Book
Talk about Nassim Taleb’s new book, Antifragility, go here www.cafehayek.com and click on podcasts on left of blog. Other interesting podcasts available.
Keynesian Economics is a Failure
Interesting lecture on classical economic theory: http://mises.org/resources/5278/Why-Your-Grandfathers-Economics-Was-Better-Than-Yours
- A participant: “I really enjoyed this talk. Most of it is about Say’s Law and how Keynes was wrong. Keynes, in fact, got his idea from Thomas Malthus who was a contemporary of JB Say.”Here are some notes:Recessions are never due to demand deficiency.
An economy can never produce more than its members are willing or able to buy.
High levels of savings do not cause recessions.What causes recessions?
– Structure of supply doesn’t fit the structure of demandGeneral Glut
– Could you produce too much of everything? No.
– Overproduction of particular goods can lead to a general downturnMen err in their production there is no deficiency in demand – David Ricardo