Rationing and Allocating
When economists talk about price rationing,
non-economists often do not understand. This article from
AmosWeb explains the concept:
www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=price+rationing
CyberEcononics explains rationing by coupon in the
U.S. during World War II. Here are a couple of sites that
look at rationing by coupons in the UK during World War
II:
www.woodlands-junior.kent.sch.uk/Homework/war/rationing.htm
A blog at Economist.com talks about the importance of
information in prices, with a lengthy quotation from
Friedrich Hayek:
www.economist.com/blogs/freeexchange/2007/04/the_power_of_prices.cfm
Maybe I should have given something from Wikipedia here
because it seems that the economics of information coming
from Hayek was a source of inspiration for Wikipedia:
www.reason.com/news/show/119689.html
Government subsidized bread in Egypt has led to many
problems, as this article in The New York Times
explains:
www.nytimes.com/2008/01/17/world/africa/17bread.html
Hugh Rockoff explains price controls in this long but
informative entry in The Concise Encyclopedia of
Economics:
www.econlib.org/library/Enc/PriceControls.html
In this article in the New York Times entitled,
"In Niger, Trees and Crops Turn Back the Desert," see if you
can find the role of private property rights:
www.nytimes.com/2007/02/11/world/africa/11niger.html?ex=1328936400&en=7bd7a234c9fbad51&ei=5124&partner=digg&exprod=digg
Here
is an article that explains the Austrian point of view in
the socialist calculation debate of whether a socialist
economy could be economically efficient:
the-idea-shop.com/article/97/the-socialist-economic-calculation-debate-and-the-austrian-critique-of-central-planning
An explanation of consumer sovereignty from The Quaker
Economist:
www.quaker.org/tqe/2003/TQE067-EN-Consumer.html
What CyberEconomics calls destabilizing feedback
is often called positive feedback. Except when it is called
negative feedback. Confused? So is the The Wall Street
Journal:
blogs.wsj.com/economics/2008/02/21/negative-feedback-on-economys-negative-feedback-loops/
(I have not yet found a suitable entry here.)
These links were checked on July 5, 2008.
Why is
this page here?
Copyright
Robert Schenk
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