The Fund for American Studies
"A wise man once said never judge a book by its cover. Presumably whoever first spoke these words meant not to judge based on appearances. I took this sentiment literally. The back cover of Byron Fisher's book, The Supply and Demand Paradox: A Treatise on Economics glosses over Fisher's work and mentions that he serves as an infantry officer in the U.S. Army. I immediately assumed that Fisher's youth would compromise the quality of his writing and thought... My folly."
"Though Fisher hasn't spent years analyzing the markets, he successfully answers the question economists have argued over since the emergence of the modern economy: Does supply create demand or does demand create supply?"
"In his book, Fisher argues that invariably the latter is true.
Fisher moves past markets and into applicable examples of how supply and demand are not equal. In other words, he demonstrates for a greater readership that the consumer first must feel the need before the response of the manufacturer can be effective. Essentially, he states that what drives markets, whether it is the market for apples or a contract killer, is demand, not supply."
"Fisher's explanation of what drives markets is compelling. He illustrates for his audience that need yields a product. In making his case he implies that the creation of a device, merchandise or an adaptation will not drive the average consumer to clamor for whatever has been presented to the public if it is not first wanted."
"Fisher argues persuasively that demand creates supply. However, he fails to disprove the other side of the argument: supply creating demand. For example, what about the Apple iPod? Ten years ago people had never heard of the device, but whenever Apple is on the brink of releasing the next generation of Nanos, the public is always lined up outside of the Apple store."
"It is then arguable that Apple has done the impossible as the manufacturer and created the demand for a product simply by introducing innovation into the market. The point is not whether or not this statement is true, but that Fisher has not disproved it."
"Some might claim that Fisher is a rookie, but he has certainly done his research."
His work is a departure from typical textbook analysis, which broadens readership of the material."
"The Supply and Demand Paradox is fascinating even if you are not a daily disciple of The Wall Street Journal. Fisher invites the average reader to examine economic philosophy while enabling the reader to consider his proposal, using "real-life" examples that anyone can relate to. Certainly Fisher is onto something with his theories, and I, for one, hope for a sequel."
– Julia DiCarlo