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The non-market solution doesn't solve the fundamental problem it prevents the problem from doing maximal damage in a time sensitive situation. It takes time to
by jrumbut 7y ago
The non-market solution doesn't solve the fundamental problem it prevents the problem from doing maximal damage in a time sensitive situation.
It takes time to build and staff and supply a mask factory, meanwhile you risk the scarce (in the best of times), skilled clinicians getting sick en masse or abandoning their jobs.
Market solutions work when there is no coercion besides price, unfortunately viruses won't take checks, nor will people who are fearful or desperate.
- CryptoPunk 7y agoThat kind of extreme situation can be dealt with far more targeted regulatory responses than price controls, like simply commandeering private supplies when medical professionals need them during a critical shortage, and some monopolist is refusing to sell them. And in most situations, money can solve the problem, and get the essential item in the hands of those who need them. Those with stockpiles typically have them in order to sell them during a shortage. Not pointlessly hoard them and forego the profit earning opportunity. The long-term damage of anti-price-gouging laws is fewer stockpiles to prevent shortages from emerging during future crises, and a slower ramp up of production and distribution when a shortage does emerge.