To: mikenola
Ok now you lost me. How do you define "too many"?Excessive supply that drives market price below average cost of production.
32 posted on
05/04/2003 11:30:29 AM PDT by
Willie Green
(Go Pat Go!!!)
To: Willie Green
The ultimate source from which entrepreneurial profit and loss are derived is the uncertainty of the future of demand and supply.
If all entrepreneurs were to anticipate correctly the future state of the market, there would be neither profits nor losses. The prices of all the factors of production would already today be fully adjusted to tomorrow's prices of the products.
All governments that restrict competition in order to improve the position of privileged sellers, can also restrict competition for the benefit of privileged buyers.
To: Willie Green
Excessive supply that drives market price below average cost of production And you could agree that farm subsidies play a role in creating this excessive supply?
35 posted on
05/04/2003 12:48:31 PM PDT by
mikenola
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