Economics in Three Lessons and One Hundred Economics Laws: Two Works in One Volume (Hunter Lewis, 2017)

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  • 18 century shortage of bread in France but Queen Marie told people to eat cake instead - stupid example
  • When luxuries first existed it is expensive until production grows and most people can afford
  • Analytics law: material life, boundaries, physical science myopia, logic, mathematics, economics data, predicting the future, immutability, universality, corruption
  • Sustainability law: unintended consequences
  • Labour law: voluntary exchange, private ownership, diseconomies of scale, diminishing returns, comparative advantage, absolute advantage, deceptive trade practices, scale of participation
  • Liebig’s Law - growth is dictated not by total resources available, but by the scarcest resource
  • Price law: discovery and communication, order, honest price, supply, demand, supply and demand, one price, marginal utility, monopoly
  • Economy is like a jigsaw puzzle with billion pieces that miraculously assembles itself
  • Profit law: consumer control, patience, speculation, loss and bankruptcy, change, changing ideas, frictional unemployment
  • Profits and wages law: union wage gain, mandated wage floors or gain, supply and demand, balanced price, wage ceilings
  • Say’s law - aggregate production necessarily creates an equal quantity of aggregate demand
  • Equality and inequality law: the problem of envy, inequality data and its interpreters, greed and conspicuous consumption, the trickle down fallacy, wealth taxes, wealth redistribution, making the worker the boss
  • Division of labour within the free price system: competition within an overall system of cooperation, growing networks, worldliness redefined, nation size, individualism and cooperatism, world governments today
  • Economics calculation law: measuring change, limits of calculation, externalities
  • Economics calculation outside business law: borrow price, halfway houses between socialism and a free price system
  • Government law
  • Money law: gold, Gresham’s Law, paper money, paper money and inflation, diversification, investment value
  • Money prices law: stabilizing prices, measuring prices, elastic money supply, real wealth, deflation, inflation
  • Interest rates law
  • Banking law: fractional reserves create money, federal reserve, fed as price fixer, reform, bank privatisation
  • Government-controlled banking law: government financing options 101
  • Spending versus saving law: fiscal stimulus, Keynesian financing tricks
  • Non-neutrality of money law
  • Non-neutrality of money, newly created money, business cycles and depression law


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