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The above claim that there aren't food shortages seems simply false for any normal definition. Obviously common use just means "an insufficient amount under th
by Bartweiss 9y ago
The above claim that there aren't food shortages seems simply false for any normal definition.
Obviously common use just means "an insufficient amount under these circumstances", but if we wanted to be very strict we could say "a situation where not all the players can simultaneously satisfy their demand at any price". A shortage is a situation where supply is inelastic and below demand.
Everyone hiring programmers could fill their roster simultaneously if they could pay enough - if not today then certainly soon. In a lot of famines, there are X people sharing food for <X people - price is no longer a reflection of desire, because no one voluntarily leaves the auction.
I do think it's important to distinguish insufficient demand from a simple lack of supply, but the latter definitely exists.