"...there are (a) facts, (b) informed extrapolations from analogies to other viruses and (c) opinion or speculation....if you’re experiencing something that has never been seen before, you simply can’t say you know how it’ll turn out....There’s no algorithm for deciding whether to favor life for a few (or for thousands) versus economic improvement for millions."-Howard … Continue reading Knowledge of the Future
Tag: economics
Capitalism vs. Price Gouging
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
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