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by BMc2020 1132 days ago
Welcome to Discourse, a new online journal of politics, economics and culture published by the Mercatus Center at George Mason University.
1 comments

Strange that the Koch brother mole, of all people, does not not understand supply-side economics. Also strange that they are seemingly in favour of kommunalkas.
I don't think it's a misunderstanding of supply and demand. There can be an explanation on both sides of the equation. Increasing supply is a solution to increased demand, but it's worth sharing that demand itself has increased and why it's increased.

Take a look at chip shortage a few years ago. Demand went to about 5x normal demand in the space of a year. The solution was to increase supply but it's not a misunderstanding of supply and demand if you told me that demand increased for xyz reason.

Demand fell off off a cliff.
according to Patrick Gelsinger, CEO of Intel, demand for semiconducters grows at 5% per year. Covid drove demand to "twenty-plus percent"

https://youtu.be/mV0ek-i9C8U?t=105

I believe he of all people would have an adequate pulse on the industry during that time.

Semiconductor Sales

2017 419 billion

2018 468 billion

2019 418 billion

2020 439 billion

2021 555 billion

2022 573 billion

Do you see the cliff? (hint: 2019)

Source: Lived through it

That's the thing about propaganda, er, libertarian economics. You have to promote whatever the spin is today, even if it contradicts what you said yesterday. Their followers have etch-a-sketches for brains. Shake them upside down and they are blank again.

edit: I guess I called that guy wrong. Anyhoo, everybody who has read The Road from Mont Pelerin all the way through raise their hands. Only me? The prosecution rests.