Low Gas Prices- Not All Good

Everyone loves low priced gas. With the amount we drive today, the cost of gas can add up very quickly. This is why when gas prices started plummeting the past few months, many celebrated. Even though, in the short run, this is a nice break from the prices we are used to; these low prices is not something to be excited about.

Supply vs Demand- Which Has the Power?

Hello everyone, and welcome to my website. Since this is my first post, I will make a short introduction.

I created this “blog” for the sake of discussing economic issues. Previously I stuck to Facebook for trying to discuss different issues, however I found that many did not care for discussing these issues, and even some may have been annoyed with my attempt. I decided then to make this blog, where I can talk about issues I think are important to the world today, with a focus on economics.

I want this blog to be as unbiased as possible. I will say that even though I do lean more towards libertarian, I will be open to any discussion, and I will back up my claims with the best evidence I possibly can. I find that those who claim to be “completely unbiased” still naturally put bias into their work, thus causing some discontent among the readers/ viewers. So I will use this to not only defend some of my stances, but also learn more about stance from other people, and maybe even change my views if one’s evidence simply is stronger than mine.

That being said, the first topic I would like to discuss is as simple as Supply and Demand. I saw a meme of Hillary Clinton going around, which quotes her saying “Don’t let anyone tell you corporations create jobs”. Besides being taken completely out of context[1], this brings up an interesting topic. What is more important to an economy- the demand from the consumers or the supply from the businesses?