Economics of dating supply and demand
“In my considered opinion, salary is payment for goods delivered and it must conform to the law of supply and demand.
If, therefore, the fixed salary is a violation of this law - as, for instance, when I see two engineers leaving college together and both equally well trained and efficient, and one getting forty thousand while the other only earns two thousand , or when lawyers and hussars, possessing no special qualifications, are appointed directors of banks with huge salaries - I can only conclude that their salaries are not fixed according to the law of supply and demand but simply by personal influence.
And this is an abuse important in itself and having a deleterious effect on government service.” ― Leo Tolstoy, “Winter arrived with December, and the world continued to suffer the loss of the Internet and most forms of communication. The only mass form of personal communication was the letter, and postal workers were having their worst year ever, as they were actually meeded.
In the early 20th Century, less than 10% of all homes were owner-occupied, but by the early 21st Century, this figure had risen to 70% - just above the EU average.A little change in the prices or the availability of a commodity affects people drastically.A little disequilibrium in these two will cause the whole economy to suffer.Major cities experienced riots on a regular basis, spurred on by religious fervor and want.Civilization was on the brink of collapse.” ― Mark A.