What happens when markets stop working?
That is the question at the core of this video, and it matters because we are entering a period in which shortages of essential goods may become impossible to ignore. Oil supplies are already being disrupted. Gas, fertilisers, industrial chemicals and food supply chains are under pressure. And when essentials become scarce, markets ration by price, not by need.
That is, of course, when markets work, when they ration by price.
Again, the market never stops working. You can no more avoid it than ignore gravity.
That was just what I came to say and you beat me to it. Markets carry on working even when the government is doing it’s best to stop them. You just end up with distorted markets. Wind power and electric cars for example.
This again? Was it 2 weeks ago we mocked this?
He seems to delight in predicting disaster as an excuse to do what he wants anyway.If you predict 9000 disasters a day you’ll eventually be right I suppose.
I’m not sure that even at 9000 he would luck out and get it right once. He seems to have a knack of getting it wrong each and every time. This level of certainty could be valuable..
Martin, you’ve put your finger on why catastrophism is the default response of leftists: disaster would – surely? – enable socialism.
I have a commie friend who regularly predicts economic/social collapse when a new ‘crisis’ [aka a problem] occurs. He shrugs off his wrong predictions with “capitalism will collapse under the weight of its internal contradictions”. To which I respond that capitalism doesn’t contain any contradictions, only creative tensions…and then he moves to green craparola…
What happens when markets stop working?
They pack the stalls up. The street cleaners sweep up the dropped veggies & plastic bags, then they give the area a hosing off.
Nothing hard to understand there. Not even for a Professor of Applied Lunacy
Ah, but the advantage of rationing by need is that The Seal of the Potatoes is the bloke who gets to assess “need”.
On a point of information, is it still permissible to call it a black market without being cancelled?
Market of colour?
Market concealed by darkness?
Melanin market?
Would the cancelation be for the “black” or mentioning the word “market”?
BIMOC – Black and Indigenous Markets of Colo(u)r.
Ration by ‘need,’ and the next week there will be none. Forever more. Without a market there will be no reason to produce any more.
Killing the rich and taking their stuff is a one-shot trick that can’t be repeated.
Markets ration by price. He wants to ration at gun point. Because a gray dystopia is what he really wants.
um… the people who need it the most will be prepared to pay the most.
so the problem sorts itself out without Spudivine intervention.
All rationing creates is corruption for those who control distribution. Ths script generally
runs to “if I get this rationed thing for you, what extra special thing will you do for me”. Which is still “paying the most” but in often non-financial ways.
Which appears to be the control position which spud wants to wangle himself into.
He has no affinity for those in need.
He does have affinity for someone he perceives to be in need – that being himself
This X 100 – and interestingly even in World War Two UK Black markets thrived as did creative ways to get round rationing (And that was a far higher trust society than contemporary Britain) – his ignorance of history and geopolitics, as well as his general obnoxiousness really do make him one of the worst human beings in the contemporary world. Having worked in prisons on a volunteer basis I can confidently state I have never met any inmates that I had a lower opinion of than this guy.
Health insurance was invented in US during WWII as a way to give employees additional compensation that was prevented by government wage freeze.
That got ugly.