Show NATURAL LAW IS BEST many learned treatises have been written on the theory and the practical workings of the law of supply and demand these are often couched in the forbidding language 1 l of the economists and arent for the laymen but t the h e way vay that law affects us in our daily life can be very simply explained in the last two years or so the meat industry has provided an exceptionally good example of the law in action tn in 1953 the amount of beef that went to market was much greater than in 1952 the result was much greater than in 1952 the result was that beef prices declined between 10 and 35 per cent depending upon cut and grade other meats also demonstrated the strong production price relationship that exists under this natural law in other words prices tend to rise when the available supplies of any commodity in wide use decline and they tend to drop when the supply increases this year as last there are lavish supplies of meat in the markets and during a recent six week period wholesale meat prices throughout the country dropped an average of 11 per cent anything which tends to artificially limit production or otherwise interfere with the supply and demand market hurts producers and consumers in in the long run because of resulting shortages man has not been able to improve on natural economic law |