Shortages of all sorts of stuff in the Northeast are making headlines. There is lots of commentary on the situation, including lots that echo what I’m about to write.
“We understand why there was a shortage,” Cuomo said. “The harbor is now open. There should be a real change in conditions and people should see it quickly.”
Uh, no. You don’t understand why there is a shortage. How do I know he doesn’t know? Anti-gouging laws. The best way to ensure that there will be shortages of anything in any situation? Fix the price.
How do I know gas prices, for example, haven’t risen to meet the increased demand and lack of supply? Instagram – a pic from a Getty station in Wyckoff.
The solution is simple – let prices adjust to demand and there will be no shortages!