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The harbour of Valencia.
The harbour of Valencia.
(VICTOR FRAILE/REUTERS)

TODD HIRSCH

A Spanish lesson in economics

Economic principles are at work everywhere you look. This month, I had the chance to visit Spain, a country that’s been the focus of much unwanted attention about the abysmal state of its economy. During my trip, two examples of economic principles were highlighted – one hilarious, the other quite tragic.