The Devil’s Dictionary of Economics
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A type of graph that you won’t find anywhere in my 1999 book. In Section I of my Simplified Exposition, I write, “For this [supply and demand] to work at all, the equations must be independent, which means that each individual must be either a buyer or a seller. The economist’s decision to put people on one curve or the other cannot depend on the price that they would buy or sell because both equations are defined for all prices.”
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