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We have to be honest with ourselves and admit that markets, efficient or inefficient, cannot guarantee an outcome where every consumer can find a matching suppl
by kelseyfrog 2y ago
We have to be honest with ourselves and admit that markets, efficient or inefficient, cannot guarantee an outcome where every consumer can find a matching supplier. Ignoring the fact that there's people who comprise the demand curve to the right of the equilibrium point[1] is delusional. The cost of fooling ourselves with that delusion results in human suffering and ultimately lives.
Efficient distribution simply isn't a valid response to dividing people into those who who are the beneficiaries of distribution and those who aren't. "Sorry you can't afford a home, but don't worry, it means someone else could," is unjustifiable.
This is literally Economics 101, and understanding the consequences as they relate to housing.
1. Latent demand