"Here's a little economics lesson: supply and demand," Perry said, according to Taylor Kuykendall of Standard and Poor's. People often talk about supply and demand in economics, but not in the way Perry used the terms. In that situation, then the supply of goods and services the economy produces can exceed the demand for them. Perry might have been thinking of conservative objections to Keynes when he said that demand follows supply. If producers in a given industry simply "put the supply out there," as Perry said, they'll be left with warehouses full of surplus goods.

Source: Washington Post July 06, 2017 20:00 UTC