Tag Archives: shortage

Communism Lives

By Josh Weil | Published: November 8, 2009
Why does the country with the world’s largest oil reserves and the 4th largest river face an energy shortage? Answer below the jump.
Posted in Government Spending, Knowledge problem, Price Theory | Also tagged , , | Leave a comment

Munger on Prices and Shortages

By Josh Weil | Published: November 1, 2009
Duke University Professor Mike Munger is on this week’s Econtalk discussing the role of prices in the allocation of goods. What is the preferable allocation mechanism if there is a limited supply of something? How do producers react to demand, and what are the signals they receive from a government purchaser compared to consumers? What can [...]
Posted in Price Theory | Also tagged , , , | 1 Comment