Price gouging is an important component of the market to ensure that a run on supply doesn't deplete supplies, leaving it in the hands of the first few people who happen to run to the store. It ensures that supply exists as long as possible so people can still get what they need. Sure it … Continue reading Price Gouging is Good and Necessary
I apologize for my hiatus. I have been extremely busy on a project for work that has consumed about 75% or more of my time lately. I appreciate you, my faithful readers, sticking with me. If you're a fan of economics, you won't be disappointed today. In response to the news of Martin Shkreli buying … Continue reading Are Patents and Intellectual Property Necessary Components of an Economy?