On the record
You do not have to be a professor of mathematics or economics to see that if people with plenty of cash start bidding against each other for scarce goods, the price of those goods goes up.
Source
gutenberg.orgFDR: “You do not have to be a professor of mathematics or economics to see that if people with plenty of cash start bidding…”
Editor's note · Context
Roosevelt illustrates the basic economic principle that competition for scarce goods will drive prices up.
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