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Many industries got rid of deadweight only to find during the pandemic they and their industry had lost resilience when circumstances changed (which they always
by ttfkam 4y ago
Many industries got rid of deadweight only to find during the pandemic they and their industry had lost resilience when circumstances changed (which they always do).
See: CPUs and GPUs in 2020-2021, baby formula in 2022, etc.
It can absolutely be a judgment call.
- colinmhayes 4y agodeadweight loss has a specific meaning in economics.
- ttfkam 4y agoTIL
- wbsss4412 4y agoDeadweight loss refers to a net reduction in consumer+producer surplus within the economy. It has nothing to do with the everyday meaning of the term “deadweight”.
- ttfkam 4y agoTIL