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4 thoughts on “Contact”

  1. Sir:
    On episode 3 of crash course economics, Mr. Clifford states:
    “The supply and demand model only applies to analyzing strawberries.
    I’m just joking. It applies to all sort of stuff.”

    In fact, this model applies only to “markets” with
    -a single product
    -a single producer
    -a single consumer
    -no changes of demand preferences
    (I suggest Ms. Hill should eat a pound of
    strawberries each day for two weeks, and then
    ask her what she’d like for dessert)

    This is known as the Sonnenschein–Mantel–Debreu theorem (first
    show by W. M. Gorman). I know this is never mentioned in economy
    textbooks, mainly because it renders the term “aggregate demand”
    completely meaningless. ANY polinomial is a valid description of the
    aggregated demand curve, and it has infinite many equilibria.

    Don’t take my word on this, check the wikipedia or better:

    Now, I don’t blame Ms. Hill or Mr. Clifford or your writers for taking
    seriously their textbooks, but the result is that you’re helping
    to spread the dangerous nonsense.


  2. In the background of the video scenes in which Adrienne Hill appears, there is a bust of someone–a white bust. Is that bust of Marx? Thank you.

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