subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium … what economists tell us, demand, supply and equilibrium do not carry over to the actual world: they cannot be empirically …

Since the inception of supply management in Canada during the 1970s, milk production quota has been used to regulate … output and participation in the dairy industry. In recent years, milk quota values have increased dramatically, almost … tripling in value since the mid-1980s. This led to the Dairy Farmers of Ontario intervening on the milk production quota …