Raymond J. March | Wednesday September 12, 2018 at 2:30 PM PDT
The only reliable remedy to mitigate shortages of any product is to allow competition in the market.
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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