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Tuesday, October 20, 2020

Power >>>>> money — Scott Sumner

How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?

If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.

Suppose instead that we ration by political power—give it first to people with lots of clout:
The Money Illusion
Power >>>>> money
Scott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University

1 comment:

  1. If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.

    Then let's do it by a Social Credit Score, ala China.

    Ooops! There goes a lot of selfish "libertarians" down the drain if their own immune systems are inadequate.

    But if money is to serve as some kinda of merit indicator then that REQUIRES that we have a just economic system which, if the Bible is any kind of guide, WE DON'T HAVE.

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