Fred explains economics

Today, FOE will explain economics, fraud, unemployment, and the end of the world. There will no longer be a need for economists, if there ever was. You will understand everything.FOE is that sort of column.Long ago, everybody worked on farms, growing food. This was a real service. People wanted food. They liked to eat it. At the same time, there was a tremendous demand for refrigerators and cars. People didn’t know they wanted these things because they hadn’t been invented. But they wanted them anyway.

Source: Leisure Unsought, Neural Networks, and Other Dramas, by Fred Reed – The Unz Review

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