Macro Musings with David Beckworth cover image

Ryan Bourne on *The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy*

Macro Musings with David Beckworth

CHAPTER

Efficiency of Price Mechanism in Rationing Resources

Exploring how the price mechanism is the most efficient way to ration resources, compared to other methods like quantity or quality-based rationing, with examples from grocery store purchases and rent control. The chapter highlights the impact of artificially controlling prices on goods and services, emphasizing the necessity of tough choices in a world of limited desires.

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