A Quote by Robert Tisserand
A problem that we're seeing now in the aromatherapy world is that the market has got so huge that in some cases there are not enough plants to supply the demand.
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There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply.
With the increasing demand for holistic health care and the 'green revolution', the demand for aromatherapy will increase, and hopefully we will reach the point where medical doctors incorporate it into their repertoire. It will become routine for doctors to send culture samples to the pharmacist for testing, and identify the relevant aromatherapy for the patient. The stress-relieving properties associated with aromatherapy make it an indispensable part of health care.
The supply of words in the world market is plentiful but the demand is falling. Let deeds follow words now.
I must tell you that the supply of words on the world market is plentiful, but the demand is falling.
To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.
You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.
The NSF study projected a shortfall of 675,000 scientists and engineers without considering the future demand for such individuals in the marketplace. It simply observed a decline in the number of 22-year-olds and projected that this demographic trend would result in a huge shortfall. This could be termed the supply-side theory of labor market analysis. But making labor market projections without considering the demand side of the equation doesn't pass the laugh test with experts in the field.
Here is a principle to use in all aspects of economics and policy. When you find a good or service that is in huge demand but the supply is so limited to the point that the price goes up and up, look for the regulation that is causing it. This applies regardless of the sector, whether transportation, gas, education, food, beer, or daycare. There is something in the way that is preventing the market from working as it should. If you look carefully enough, you will find the hand of the state making the mess in question.
I think the main problem we have is the pricing of oil as it is now. I think it's wrong. It does not reflect the fundamentals of supply/demand.
When you look at what's happening in Mexico, a friend of mine who builds plants said it's the eighth wonder of the world. They're building some of the biggest plants anywhere in the world, some of the most sophisticated, some of the best plants. With the United States, as he said, not so much.
The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.
Once the Third World has become a mass market for the goods, products, and processes which are designed by the rich for themselves, the discrepancy between demand for these Western artifacts and the supply will increase indefinitely.
A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.
If we're going to live as we are in a world of supply and demand, then journalists had better find a way to create a demand for good journalism.
In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.
Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
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