The only reliable remedy to mitigate shortages of any product is to allow competition in the market.

In a recent New York Times piece, economist Robert Shiller built an argument that was a non sequitur resting on two false premises. Specifically, Shiller argued: (Premise 1:) Economics courses teach students that market outcomes are “Pareto optimal.” (Premise 2:) In reality, market forces lead to systematic deception and manipulation of the public. (Conclusion:)...
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