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It often couldn't figure out how to produce enough of the right things -- pricing signals were better across a wide variety of consumer goods. It did pretty wel
by wwweston 7y ago
It often couldn't figure out how to produce enough of the right things -- pricing signals were better across a wide variety of consumer goods. It did pretty well at some things.
Pricing signals are also bad at some things.
Saying "the government is bad at producing things" is an overgeneralization. It'd be bad to put it in charge of producing everything. But putting markets in charge of producing everything has points of failure too, which is why we're having this conversation.
- lightgreen 7y ago> But putting markets in charge of producing everything has points of failure too No it doesn’t. As soon as governments clearly states that they want to purchase a hundred billion masks and ventilators, market will react very quickly. They government did not post that request yet.