Open Question: When does capitalism become price gouging? Strikes me that price gouging is during acute events where people with means cannot buy what they want, i.e., the price mechanism breaks badly enough that it impacts society-at-large rather than a minority. But, so long as it's impacts a minority or is an plausibly deniable externality, … Continue reading Capitalism vs. Price Gouging
Tag: economics
How the Economic Machine Works by Ray Dalio
Weitzman’s The Noah’s Ark Problem
"The "Noah's Ark Problem" is intended to be an allegory or parable that renders a vivid image of the core problem of maximizing diversity under a budget constraint. What is treated here is actually not the most general form of the underlying mathematical problem. Some slight generalizations are possible, but they would come at the … Continue reading Weitzman’s The Noah’s Ark Problem
Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict
ConclusionsGlobalisation/migration (domestic vs external inequality) and educational expansion (education vs property inequality) have created new multi-dimensional conflicts about inequality, leading to the collapse of the postwar left-vs-right party system.Why didn’t democracy reduce inequality?Because multi-dimensional coalitions are complicated.Without a strong egalitarian-internationalist platform, it’s difficult to have the low-education, low-income voters from all origins vote for the … Continue reading Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict
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