Business Insider reports:
On Thursday, US Secretary of Energy Rick Perry flubbed one of the most fundamental lessons of modern economics. “Here’s a little economics lesson: supply and demand. You put the supply out there, and the demand will follow,” he said at a coal plant, according to Taylor Kuykendall, an energy reporter at S&P Global Market Intelligence. Contemporary mainstream economists generally agree that the reverse is true: demand is the driver.
DOE Rick Perry at coal plant:"Here’s a little economics lesson: supply and demand. You put the supply out there and the demand will follow."
— Taylor Kuykendall (@taykuy) July 6, 2017
Tell that to my warehouse filled with fidget spinners in 12 months.
— Jeremy Repanich (@racefortheprize) July 6, 2017
This can be easily disproved. The world currently has a supply of 1 Rick Perry, but the demand is 0.https://t.co/KvgSXj7JOV
— Jess Dweck (@TheDweck) July 6, 2017
The third agency he was going to shut down was the Department of Basic Fucking Economics.
— Andrew Hess (@AndrewHess77) July 6, 2017
— L Boogs (@waterblocknyc) July 6, 2017