Economists need to delves deeply into the mechanics and in and out, details and logistics of these problems. And it's not the nature of most economists to do that kind of work and it generally doesn't get rewarded. It was always also totally left sort of untouched by the Nobel Prize for 20 odd years since the formation of the Nobel Prize in 1969. So you have a totally rational behavior from all the agents but the outcome is on one hand shortage and a glut.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode