Monday, March 2, 2020

Quote of the Day: 2 March 2020

“There has never been enough to satisfy everyone completely. That is the real constraint. That is what scarcity means.” -Thomas Sowell
[Regardless of what the purported cost is, there will be a price that will have the effect of rationing whatever the item or service is under consideration. That is why price floors do not work. There are real constraints in place that make it impossible to provide the good to everyone who merely desires to have it, whether they can pay the price or not.]

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