3 ms·

Trade barriers, price controls, stimulus, etc. -- remarkable how fast economic liberalism goes out the window in a crisis.

cmrdporcupine 7y ago
What I get from this is it's remarkable how inept the model established by 'economic liberalism', with its just-in-time delivery and 'globalized production to cheapest labour zone' is at delivering on people's real needs in time of crisis. It's amazing how quickly the very proposition that we can get by without any state-level macroeconomic planning, -- and that the free market organically produces superior results -- is shown to be an ideological fantasy the moment s*hit hits the fan, with bare shelves and missing medical equipment and millions set to be without health insurance in the US... My opinion: States that retain some capacity of a planned economy will do better in scenarios like this. And with climate change becoming more serious, there will be more of these kinds of crisis.
- vkou 7y ago
  > What I get from this is it's remarkable how inept the model established by 'economic liberalism', with its just-in-time delivery and 'globalized production to cheapest labour zone' is at delivering on people's real needs in time of crisis. Indeed. The PPE/toilet paper/tasting kit/flour shortages are becoming farcical at this point. It feels like the Soviet Union, where wonderful pronouncements about the plenitude of _______ are made, but then you discover otherwise at the grocery, or the doctor. Of course, in 2020, the solution to these problems is rationing. It's almost as if rationing is the only way to solve these kinds of shortages. But since the rationing is per-shopping visit, people just hoard by hitting up multiple stores in one shopping trip...
- dorgo 7y ago
  > with bare shelves yes, this is a mystery. Free market should have fixed that. Even if the last roll of toilet paper would cost $1000000 the shelf should not be empty. Is the price regulated in some way?

cmrdporcupine 7y ago

What I get from this is it's remarkable how inept the model established by 'economic liberalism', with its just-in-time delivery and 'globalized production to cheapest labour zone' is at delivering on people's real needs in time of crisis. It's amazing how quickly the very proposition that we can get by without any state-level macroeconomic planning, -- and that the free market organically produces superior results -- is shown to be an ideological fantasy the moment s*hit hits the fan, with bare shelves and missing medical equipment and millions set to be without health insurance in the US... My opinion: States that retain some capacity of a planned economy will do better in scenarios like this. And with climate change becoming more serious, there will be more of these kinds of crisis.

vkou 7y ago
> What I get from this is it's remarkable how inept the model established by 'economic liberalism', with its just-in-time delivery and 'globalized production to cheapest labour zone' is at delivering on people's real needs in time of crisis. Indeed. The PPE/toilet paper/tasting kit/flour shortages are becoming farcical at this point. It feels like the Soviet Union, where wonderful pronouncements about the plenitude of _______ are made, but then you discover otherwise at the grocery, or the doctor. Of course, in 2020, the solution to these problems is rationing. It's almost as if rationing is the only way to solve these kinds of shortages. But since the rationing is per-shopping visit, people just hoard by hitting up multiple stores in one shopping trip...
dorgo 7y ago
> with bare shelves yes, this is a mystery. Free market should have fixed that. Even if the last roll of toilet paper would cost $1000000 the shelf should not be empty. Is the price regulated in some way?