In the west, it has prevented wages adjusting to changes in the demand for and supply of different types of workers.
Growth in average daily volume is attributed to changes in fundamental supply and demand factors, improvement in economic recovery as well as increased geopolitical uncertainty.
They are making a crucial mistake in confusing price changes resulting from fluctuations in supply-and-demand and productivity with price changes that come about from a debasing of the currency.
Because the inverse of supply and or demand not changing very much when prices change is that prices change a lot in response to only small changes in supply and or demand.
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Any effort to modify global prices over a sustained period will most likely fail without substantial changes in the mechanics of supply and demand.
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These sums are in essence the difference between measured changes in physical oil stocks and estimates of supply and demand.
So if demand at a price changes but available supply does not then it is price which will change in order to balance supply and demand.
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Like many of his brethren, Bernanke confuses price changes that result from supply-and-demand factors in a free market with those that result from debasing the currency.
Broadly, instead of using simple supply and demand, it explains changes in the demand for one asset (a small silver coin, say) relative to another (a large coin) in terms of changes in the rate of return that the holder of the assets can expect from each.
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This should bring the sorts of benefits that the Internet delivers everywhere, tightening up the supply chain, making Matsushita more responsive to changes in demand and allowing it to carry less stock.
If food demand or supply has a very low elasticity with respect to price in the short term then when we have only a minor change in supply and or demand then we will see large changes in food prices.
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