Mises Daily
Author:
Tyler A. Watts
Online Publish Date:
that people ought to be forward thinking, prudent, and thrifty in their use of economic resources. And I’m OK with this basic idea — on the surface, it sounds like should rankle people with an economic understanding of the world. A basic tenet of economics is that markets are self-correcting and orderly; prices indicate resource favor according to supply and demand factors — but sustainability of high economic growth and high standards of living in the economically developed, capitalist