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Right. High prices serve as a production signal and a rationing mechanism. There is nothing wrong with rationing access to scarce goods via the price mechanism.
by quotemstr 7y ago
Right. High prices serve as a production signal and a rationing mechanism. There is nothing wrong with rationing access to scarce goods via the price mechanism. The alternative is waste.
- andrewmutz 7y agoYour right of course, and Economists agree with you by large margins. But the man on the street finds this offensive, and you can see that in the downvotes your comment is receiving.
- logicchains 7y agoMaybe in this case the men in the street will get their comeuppance when they find themselves left jobless by the indiscriminately economically destructive lockdown policies they cheered on.
- someguydave 7y agoIt does demonstrate the degree of historical and economic literacy here on this supposed forum of SV intelligentsia.