Episode 162: The Law of Demanding More Supplies

The laws of economics aren’t social conventions that we can choose to follow or ignore as it suits us. When demand for a product outstrips supply, the price of the product rises. Calling it, “price gouging,” and outlawing doesn’t make the price increase go away. It simply hides it in other forms. When it comes to price gouging laws, we only think we are choosing between a high price and a low price. We are actually choosing between a high price and a shortage.

Show Your Support for Words & Numbers at Patreon

https://www.patreon.com/wordsandnumbers

Get Your Copy of Cooperation and Coercion Now!

https://isi.org/cooperation-and-coercion-preorder/

Quick Hits

Dayton University Pepper Sprays Its Students
https://www.dispatch.com/news/20200311/police-fire-pepper-balls-at-disorderly-crowd-near-university-of-dayton-after-coronavirus-dorm-closing-announcement

People Calling 911 for Toilet Paper

https://www.fox5ny.com/news/do-not-call-911-just-because-you-ran-out-of-toilet-paper-oregon-police-say

Foolishness of the Week

Student Suspended for Selling Hand Sanitizer

https://nypost.com/2020/03/12/uk-teen-suspended-from-school-for-charging-students-for-hand-sanitizer/

Topic of the Week

Craigslist Gas Black-Market

https://money.cnn.com/2012/11/05/news/economy/craigslist-gas-sandy/index.html

Fire Man Arrested for Selling Gas Post Hurricane Sandy

https://www.nj.com/essex/2014/12/jury_selection_to_begin_for_east_orange_firefighter_accused_of_selling_gas_after_hurricane_sandy_fue.html

Join the Conversation

Words & Numbers Backstage

https://www.facebook.com/groups/130029457649243/

Let Us Know What You Think

mailto:wordsandnumberspodcast@gmail.com

Antony Davies on Twitter

https://twitter.com/antonydavies

James R. Harrigan on Twitter

https://twitter.com/JamesRHarrigan