Status Updates From Basic Economics: A Common S...

Qué lindo sería que la gente entendiera que, no existen brechas de género en los salarios de los trabajos, ni que los precios en ningún mercado son al tuntún?

- greed is kind of the problem w the economy, not by policy makers or business owners, but by those taking advantage of policies/incentives in place
- harm: thinking intentional causes are what brings on systemic effects (insurance costs in impoverished areas, ...affirmative action)
- substitutes for price allocation (control, floors) reduce the incentive for self rationing (reason for point no.1)

Price control will not fix anything; people will hoard (especially housing/ apartments) and quality deteriorates. Price floors are also not v helpful to gov, poor, and tax payers, but very helpful to the individual group that it’s for. Price floors lead to poor having none or less than necessary, tax dollars used to pay for surplus, and surplus is rotting.

Q Does international trade solve this?

Learning about economics over the course of three years with my high school students!