God's Law of Supply and Demand
Pastor Steve N. Wagers
2 Kings 4: 1-7
September 9. 2009
1. The PROBLEM that She FACED!
A) A Tragic Death
B) A Terrible Debt
2. The PRESCRIPTION that She FOLLOWED!
A) The Demand Placed Upon Her
B) The Desire Placed Within Her
3. THE PROVISION that She FOUND!
A) How it was Supplied
B) Why that was Stopped
The study of Economics can be traced back to Plato, Aristotle and many Roman master minds such as Cicero and Virgil. Modern Economics is attributed to the early 20th century economist John Milton Keynes. He stated that economics was "the study of choice and decision-making in a world with limited resources."
The world of Economics involves many principles, however the underlying principle is what is knows as "The Law of Supply and Demand." Supply speaks of those goods that are available, while Demand denotes the desire for those available goods.
In an unrestricted economy when supply overtakes demand a surplus will result, causing deflation. However, when demand overtakes supply, it will result in inflation. The greatest modern example of demand overtaking supply would be The Great Depression.
After WWII, the government created the GDP, which stands for "Gross Domestic Product." The GDP measures the total output of the economy, measured by its final purchase price.
I recently read a comparison of world governments.
Communism: You have two cows. The government takes both of them and gives you part of the milk.
Socialism: You have two cows. The government takes one and gives it to your neighbor.
Fascism: You have two cows. The government takes both cows and sells you the milk.
Nazism: You have two cows. The government takes both cows, and then shoots you.
Bureaucracy: You have two cows. The government takes both of them, shoots one, milks the other, then pours the milk down the drain.
Capitalism: You have two cows. You sell one of them and buy a bull.
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