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You've avoided the fundamental issue. If bread costs 100$ is it a good thing or a bad thing for society? If the "market clearing price" for bread results in p
by stale2002 9y ago
You've avoided the fundamental issue.
If bread costs 100$ is it a good thing or a bad thing for society?
If the "market clearing price" for bread results in people starving to death, is this good or bad?
In this hypothetical situation, would it be a good idea or a bad idea for the government, or charities, or society/individuals in society to try and solve the high bread price problem?
Also, if people are literally starving to death, even if markets "clear", does it or does it not fit a normal person's definition of a "food shortage"?
Personally, my definition of shortage is "there isn't enough of X, and it would be a good idea to increase X".