Arrived at my doorstep


LO32L5 Ha, it's precisely what we're following. Thanks Ryan.,

Progressives really love this blog, especially a comment Tyler made a few days ago...

Wouldn't life be simpler if people only commented on words they fully understood? I think Tyler deliberately phrased it like that to speed test the affect heuristic.

If everyone had EXACTLY the same amount of wealth, some people would die because they didn't have more wealth.

That is exactly what the death panels are all about, btw. We will simply not develop or use medical techniques that can't be afforded by the poorest/oldest/whateverest.

As a poor person, my own health is not done any good by these artificial complexities and accusations. Doctors need to start teaching poor people how to heal themselves. Now. (A few are already trying)

I don't think this will make any bestseller list, for good reason. Garbage.

From the Amazon review

"And as Hurricane Debby is approaching Galveston, Texas, this week, it's amusing to read the letter from September 2008 to a radio station about its reporter's interview with the angry resident who went to the gas station "to top off" before Hurricane Ike hit. She was furious that prices had gone up $0.50 a gallon from the day before. "It's ridiculous, Ike hasn't hit yet!" Boudreaux said the reporter should have asked: "Why are you topping off? Ike hasn't hit yet." The operator of the gasoline station acted in anticipation of the imminent landfall of Ike the same way the motorist did, by recognizing that a resource, normally readily available, might be more scarce for a time."

If this book were widely read life would be marginally improved for everyone. Even the Amazon review provides some simple enlightenment. Now, we have no excuse for not having something to say in those self-congratulatory populist watercooler conversations that always happen in times where "hoarding" comes up. And of course the loop could be closed (and perhaps it is in the book) by asking the consumer "if the price is so ridiculous, then why not make your wager and don't fill up?" And of course, it is not case of hoarding because this is a filling station whose existence is to be a station of filling. Hoarding would be what the consumer and others like her are doing.

So the premise is, if you have a scarce resource you should be able to charge more for it? Should there be exceptions, or should people have the liberty to charge as they see fit?


There is a reason for prices. A scare good priced too high - no one would buy. Too low - people who value that good more may go without as its been sold out already. Prices keep production going and allocates the goods to those who value them.

You shouldn't just be *able* to charge more for it, you *should* charge more for it. Consider, say, stores selling flashlights before a big storm. If they charge normal prices, people who already have working flashlights might still pick up a couple extras 'just in case', meaning they may be gone when people who don't have any at all come to buy one. On the other hand, if the store raises the price, people who don't really need another one, will be more likely to decide NOT to buy superfluous extras. So the people who really need them, on the other hand, will be able to buy them. BUT...because most people don't understand this, from the store's point of view, they're probably better off leaving the price where it and running out of stock quickly. Because raising prices will anger customers (even though they benefit), whereas simply running out won't.

This is very reductive, but economics is essentially about the most efficient way to allocate scarce resources. And usually freely negotiated prices results maximizes efficiency.

Lots of people are going to be unhappy with the way something like gas is distributed before a hurricane, whether its through prices, rationing, first-come-first-serve, social status, or some other method, but the main cause of the unhappiness will really be the scarcity.

Should this then apply to health care?


"if you have a scarce resource you should be able to charge more for it"

s/be able to//

There, fixed it for you. If price isn't allowed to rise, you get shortages. The price system is just a rationing and production allocation system.

And if their are going to be exceptions, who decides what they are and what the limits are?

Generally, I find that people that desire these type of exceptions also assume that they (or someone they affiliate with) will be the person to choose what the exceptions are.

Talk about prices giving signals.

Amazon is already having to discounting the book by about one-third.

Do you realize that Amazon is a 'discount' seller and discounts most hardbacks?

That looks fun, if a but fluffy.

It's a terrible title. It suggests that Boudreaux doesn't respect the opinions of people he disagrees with and so presumably doesn't have to think very hard to come up with an explanation of why they're wrong and can jump sooner to insulting them. It's entirely possible the book isn't like that, but that's the first impression.

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