After citing some examples, he observes:
It is precisely this kind of ignorance that led so many Democrats to believe Obamacare would somehow render health care less expensive. One of the first items covered in any introductory economics course is that the price of any good or service will rise if the quantity demanded increases without an accompanying increase in the available supply of that commodity. Nonetheless, it held no message for the average Democrat that the supply side of the equation was ignored by "reform," though it increased the number of patients in the health system as well as the range of services to which they are entitled.Of course, the law of supply and demand keeps working regardless of whether or not policy makers recognize that fact. To paraphrase Ayn Rand, they can evade reality, but they cannot evade the consequences of evading reality.
Although Catron concentrates mainly on Democrats, plenty of Republicans fall prey to economic illiteracy as well.
(Read the full text of, "Democrat Economic Illiteracy Has Consequences".)
