Sep
22

Alternative Arrangements

Economists believe in free markets and the prices and outcomes they produce because they are generally much more efficient than the alternatives. Some, however, argue that government should have a larger role and point, for example, to the very high prices for PPE early in the Sars-Cov-2 pandemic. These market critics are putting distribution/allocation of resources ahead of the efficiency of production. While a high bar, it is occasionally surmountable.

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