3 ms·

You are 100% correct. First I don’t think there’s anything wrong with someone making the right choices to obtain something that then becomes valuable at some ot

You are 100% correct. First I don’t think there’s anything wrong with someone making the right choices to obtain something that then becomes valuable at some other point. It’s not bad or evil at all. But it’s also the optimal solution to handling demand for numerous other reasons. See https://fee.org/articles/let-prices-rise-to-combat-the-coronavirus/ https://fee.org/articles/let-prices-rise-to-combat-the-coron...

wtallis 7y ago
> But it’s also the optimal solution to handling demand for numerous other reasons. See https://fee.org/articles/let-prices-rise-to-combat-the-coron.. https://fee.org/articles/let-prices-rise-to-combat-the-coron.... Markets are not efficient. Especially not on short timescales where even FedEx deliveries aren't quick enough to reallocate supplies and keep shelves from going bare. And especially not during an emergency that is very obviously triggering widespread irrational behavior. And especially not when consumers are working with insufficient information, because literally nobody on earth knows to a high degree of certainty or precision just what degree of risk we're facing.