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0 pointsyjftsjthsd-h6y ago0 comments

> Perhaps the law we need is one to control hoarding behavior or the rate of change.

You know what would control hoarding? Higher prices.

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4 comments · 2 top-level

jimmaswell6y ago· 2 in thread

Poor people not getting to have toilet paper is not an acceptable solution.

gwright6y ago

And what is the end result of empty shelves? Is that an acceptable solution?

I don't understand people who advocate for policies that almost guarantee empty shelves instead of a policy that would avoid shortages but at a higher price temporarily.

In my mind the higher price followed by a return to normalcy is a much better outcome for rich and poor alike than a complete shortage with nothing on the shelves.

jimmaswell6y ago

A: No price controls, scalpers buy everything and resell at 1000%. Only people who can pay that much get it until the manufacturer ends up at 10x output, which can take a long time.

B: Price controls, at least some distrubution of everyone gets some, less incentive to hoard, stores still allowed to raise prices a little (just not a predatory amount detached from real costs) when the manufacturer does when ramping up production.

The shelves are empty in either case, the difference being a nonzero amount going to poorer people in B.

1 more reply

robomartin6y ago

True enough. However, this is only true if prices go up everywhere. If people can buy at Walmart for $1 and sell on Amazon for $5...

I am most definitely a free market person, yet one has to recognize controls are important in order to deal with degenerate or corner cases. One such case is when panic sets in.

I don’t know the answer. Not an easy problem.

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