Episode 82: Capitalism Doesn't Mean What You Think It Means
Words & Numbers
00:00
The Communication Value of Prices
Price gouging is actually quite a good thing because it brings information to the market. The wage rate is not a lever that sets the value of the worker. And if the wage isn't high enough, setting it legislatively is only going to do one thing. That's going to destroy the price's ability to communicate a reality.
Transcript
Play full episode
