SLP416 Per Bylund - How To Think About Economics
Stephan Livera Podcast
00:00
The Economics of Rationing Versis Production
i think it's quite topical right now, is this discussion about rationing versis production. Could you just outline how is an austrian economist thinking about that? It makes sense to eat less and be a little hungry every day, because then maybe, if there is more food in the future, at least you can hang in there until then. On the other hand, the economy is not really but rationing what is already there. The economy is about producing new and better ways to satisfy our wants. So of course, e should focus on that, rather than focusing on on using as little as possible we have.
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