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Do you have any evidence for this? I don't meant referring to economics textbooks. I mean concrete evidence that empty shelves right now due to this epidemic ar
by smnrchrds 7y ago
Do you have any evidence for this? I don't meant referring to economics textbooks. I mean concrete evidence that empty shelves right now due to this epidemic are the results of price gouging laws. For example, showing that states with price gouging laws have empty shelves and states without do not, when controlling for other factors.
- megous 7y agoYou can't control for other factors in an economy. Every economic textbook will have a demand and supply graph, it's not hard to see what happens when you fix a price arbitrarily and shift the demand curve in that graph to simulate a higher demand. Demand and supply no longer meet -> shortage.
- BurningFrog 7y ago> I don't meant referring to economics textbooks. If you don't allow referring to the vast empirical literature on price controls, you've already decided what you want to believe.
- smnrchrds 7y agoFlu can cause fever. Every fever is not caused by flu. Every flu does not cause fever. I am like a patient asking the doctor is they have evidence this fever is caused by flu, not for example COVID-19. I wouldn't want to be referred to medical textbooks telling flu causes fever as your only evidence.
- epistasis 7y agoEconomics textbooks takes on price controls are very different from price gouging controls, as they operate on different time scales. Price gouging controls are much more likely to prevent shortages than cause them, as they prevent market manipulation, which is another topic that economics textbooks have some good takes on.