8.02.2010

Supply and Demand in Nature

Evidence from the popular book Jaws and the movies it spawned notwithstanding, Massachusetts is not particularly known as a hotbed for great white shark activity. While any fisherman from New England can vouch for the fact that there are several species of shark within a few miles of the coastline (and could probably share a few stories about dogfish), the Cape is not necessarily featured in heavy rotation alongside SoCal, Australia and South Africa during Shark Week either.

However, nature has given us a great example of the impact of supply and demand forces on otherwise static situations recently as booming seal populations have led to an increase in great white activity off the Massachusetts coast. In economic terms, an increasing supply has shifted the curve over, allowing for increased demand in the area. In everyday terms, seal are currently on sale in aisle three.

Quite logical and easy enough to follow; it is just unfortunate that the government, despite its best efforts, has not been able to replicate such supply-side magic when it comes to the job market...

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