tag:blogger.com,1999:blog-2970975545475697571.post4120017909568419323..comments2024-03-28T12:29:39.525-04:00Comments on Eaton Rapids Joe: Money and prices efficiently allocate scarce resourcesEaton Rapids Joehttp://www.blogger.com/profile/09102166969915526172noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2970975545475697571.post-52069532610356347152022-08-01T14:39:21.885-04:002022-08-01T14:39:21.885-04:00Corn and fertilizer are two more items...Corn and fertilizer are two more items...Old NFOhttps://www.blogger.com/profile/16404197287935017147noreply@blogger.comtag:blogger.com,1999:blog-2970975545475697571.post-23656302037226451202022-08-01T10:47:40.125-04:002022-08-01T10:47:40.125-04:00To play Devil's Advocate, using price this way...To play Devil's Advocate, using price this way to allocate scarce resources is one of the primary complaints of those socioeconomic less-well-off classes. And they have a point. Why should something that is essentially public property (e.g., a parking spot) be priced in ways that make it more painful for them to utilize? There are lots of prices that are so high that they shut out whole groups of people from gaining access. <br /><br />This is a well-recognized problem, for instance, in the legal community. The solution so far has been publicly funded legal aid societies and pushing pro bono work onto the legal community.<br /><br />You see it in the pharmaceutical industries, who in their advertisements almost always mention their programs for those who cannot afford the market prices. This, however, is not really dealing with public property, but is private goods being allocated. So maybe not quite the same. I think you could argue that enough drug R&D and medical research is publicly funded though, that all taxpayers have some stake in those products.<br /><br />It's a fundamental problem that a reasonably large segment of the population just does not seem capable of generating enough wealth or income to be self-supporting.<br /><br />The real question is how much effort should be expended in keeping the non-swimmers afloat. Particularly when they refuse to learn to swim, versus are just incapable of swimming. And when the seas get rough and the economic winds howl, the question becomes existential.<br /><br />I don't have the answers, but I sure understand the question.Mind your own businesshttps://www.blogger.com/profile/03275026895680246324noreply@blogger.comtag:blogger.com,1999:blog-2970975545475697571.post-84404973940421784532022-08-01T07:53:54.327-04:002022-08-01T07:53:54.327-04:00Particularly given we have least 7-8 more months o...Particularly given we have least 7-8 more months of our current trajectory, if not longer, its prudent to put some essential supplies up for a rainy day.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2970975545475697571.post-55210178252757830642022-08-01T07:38:43.925-04:002022-08-01T07:38:43.925-04:00Fundamental economics is not all that complicated....Fundamental economics is not all that complicated. At least for those who work and live in the real world. That group has never included politicians. Dannoreply@blogger.com