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Yes, exactly! After reading through the replies here, I am dumbfounded by many people's lack of understanding of this basic concept of economics (especially giv
by curiousgeorgio 7y ago
Yes, exactly! After reading through the replies here, I am dumbfounded by many people's lack of understanding of this basic concept of economics (especially given the usual level of intelligence among the HN crowd). "But the natural effects of supply and demand aren't fair in this situation because..."
Letting prices rise is the most fair and overall beneficial reaction in this situation. Even for those who can't afford the inflated prices in the very short-term (who wouldn't have access to them anyway due to limited supply), the rise in prices will help give them access to these goods at reasonable prices in the slightly-delayed short term and in the future when similar shortages occur.
I'm seriously blown away by the level of virtue signalling and mental gymnastics going on by those who don't get it, and it scares me that many of those same people hold positions of power to influence public policy.
- sixothree 7y agoWho is not "letting prices rise" here? The market is large and eBay is one tiny portion.