Byron Fisher: The Supply and Demand Paradox.(Trading Away Our Future )(Book review)

Byron Fisher: The Supply and Demand Paradox BookSurge, North Charleston, SC, 2007, pp. 122

Raymond L. Richman, Howard B. Richman, and Jesse T. Richman: Trading Away Our Future Ideal Taxes Association, Pittsburgh, PA, 2008, pp. 230

The books before us deal with applied microeconomics. The first applies the basic principles of supply and demand to a variety of day-to-day topics--from enacting legislation to evolution; the second applies the basic principles of benefit-cost analysis to international trade and finance and domestic savings.

In his book, Fisher begins by asking two questions: "Will a consumer demand a good or service simply because a producer supplies it? Will a producer supply a good or service simply because a consumer demands it?" (Fisher 2007, p. 1) The answer to these questions--"Supply does not cause Demand, but Demand causes Supply" (Fisher 2007, p. 2; emphasis in original)--is called the supply and demand paradox.

At least three problems beset Fisher's paradox. The first set of problems is associated with the …