Chapter 50: Timing of Demand & Periodical Supply

Dhammonomics:

Timing of Demand and Periodical Supply Theorem

In ideal economics, we believe that demand is endless, and it is satisfied with limited supply which meets at the equilibrium where price and quantity are settled. However, in Dhammonomics, Pirajak, the Economic Wizard, expresses that demand can be shaped with more or less contentment upon the three trainings in Buddhism namely morality, concentration and wisdom because these virtues put demand under control.

As such, we can clarify further that demand can be distinguished into need and want where our cravings are, from time to time, impulsive, fulfilled, satisfied and repeatedly stimulated. This cycle creates the timing-cycle of demand which plays an important role in various economic phenomena such as inflation, appreciation or depreciation of currency exchange, and increase or decrease in price of gold, stocks, crops and commodities.

In addition, other than ideal economics, periodical supply also meets demand seasonally causing price and quantity to be settled differently at different time frame such as during a high season and low season. Moreover, this Dhammonomic theorem reveals the key idea which expresses how and when the timing of demand meets periodical supply, where demand can be restricted with contentment and supply is limited by available resources, under the continuous cycle of craving & fulfillment of which satisfaction lasts for a certain period of time prior to the re-craving. This goes-on and on forever until one attains enlightenment causing worldly need & want to be minimised and completely eliminated upon one’s achievement of the Nirvana.

by Pirajak Tisuthiwongse (Pittaya Wong)

Economic Wizard

4 February 2023