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Supply and Demand

by Hubert D. Henderson

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This abstract was intended to convey to the ordinary reader and to the uninitiated student some conception of the general principles of thought which economists now apply to economic problems.

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Now the keynote of their practical conclusions was that Governments were doing immense mischief by meddling with a great many matters, which they would have done better to leave alone. In this they were in general agreement with one another; incidentally--let there be no mistake about it--they were right. But, as invariably happens in public controversy, their opinions became crystallized in a compact formula, or cry, with unduly sweeping implications. This was the cry of " laissez-faire."



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