Naturally, we were assuming the guy had food to give. If he doesnt have food, the merchant will ask for whatever he thinks the consumer has to offer that is worthy of his product.
Again, your formula is wrong. Your formula is more of an example of how prices are set. Not what drives the economy. CONSUMER DEMAND is what drives the economy. Now heres whats funny to me. If jobs are what drive economy, Socialism would be the best economy. The government would simply assign everyone jobs, and let the market place grow from that.
In capitialsm or even a mixed economy such as ours, consumer demand drives everything. Demand for more bandwith, bigger TVs, bigger meals, etc... are all example of how consumer demand drives everything, from new innovation, to new jobs.
BTW, because someone can't afford a product means nothing. The facts that there was a demand for a product, and someone willing to fullfil the demand, alone is evidence of an economy. It is also an example of supply & demand. Those things ring a bell? Everyday people walk into stores and realize they can't afford certian things. No big deal. The markets simply adjust when they need to.
If people dont have enough currency to afford a blanket. MAybe they have enough for half a blanket, 1/4th of blanket, or no blanket at all. But where there is supply & demand, that is evidence an economy exists. Jobs do not have to exist to have an economy. At one time all people did was take care of their land, and traded the things they grew on their land. No jobs were involved. Jobs came about after the economy grew. Which, again, is why employment levels are a LAGGING ECONOMIC INDICATOR. (keyword indicator)
Unemployment was 7.6% when Obama was sworn in. It is now a little under 10%. Please show me the math that calls this a 126% increase, even if you include the so called "real" unemployment numbers. In order for what you say to be true, only about 6 million people were unemplyed when Bush left office. So please, show the math on this one.
Re: Hmmm........
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