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.
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Tag: market competition
Robert P. Murphy | Friday November 13, 2015 at 12:00 PM PDT
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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