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Corona Pricing 18 03 2020
Автор: CharlesNSteele
Загружено: 2020-03-18
Просмотров: 66
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How could we get the shortages from panic buying under control? Price flexibility!
Economist Charles N. Steele discusses the role of prices in communicating value and scarcity and coordinating people's behavior. Prices are signals that help make society run more more smoothly. When they aren't allowed to function, problems result. In the case of panic buying from fears of a Covid-19 lockdown, rising prices would help reduce shortages, and panic. Government attempts to hold prices down make shortages much worse and hurt both buyers and sellers.
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