Mises Wire
Author:
Patrick Barron
Online Publish Date:
Scarcity of resources exists in many forms and is the problem in economics. If resources were not scarce, there would be no need to economize. The We Can’t Economize Without Effectively Ordering Our Preferences First The gradual growth in the understanding of what we now regard as basic economics eventually ended being used in a way the consumers value. The consequences of ignoring this fact of economic science is most evident today in China’s ghost cities , where resources,