3 ms·
In the long term supply and demand solves the problem, yes, but in the current situation that is not necessarily true. Raising prices incentivises people to hoa
by mytherin 7y ago
In the long term supply and demand solves the problem, yes, but in the current situation that is not necessarily true. Raising prices incentivises people to hoard masks, buy up all masks they can from retail for lower prices, steal masks, etc to sell at a profit. By the time more production is available the outbreak is already over, thus the amount of masks is essentially fixed to what we have.
"Who is willing to pay the most" is not necessarily the best metric of dividing essential goods in a crisis. What if nurses and doctors don't have access to masks because a few people that don't even need them buy up all supply, to then price gauge people later?