Refusing to listen to your stupid "Ted Talk"...since 2004
Saturday, November 03, 2012
Gas Gouging!
Great video. There's nothing complicated here. We prevent markets from working, by restricting price. And then we blame markets for failing, because at that price there's a shortage. Amazing.
They've imposed purchase limits in my parents' area in New York. My brother got them a generator, but now they have to decide between gas for the generator vs. the car.
But having a purchase limit also gives you an incentive to buy up to the limit whether or not you need it *now*, just in case you don't have it later, which makes the shortage even worse.
1 comment:
They've imposed purchase limits in my parents' area in New York. My brother got them a generator, but now they have to decide between gas for the generator vs. the car.
But having a purchase limit also gives you an incentive to buy up to the limit whether or not you need it *now*, just in case you don't have it later, which makes the shortage even worse.
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