These shoes are in very short supply and quickly become the object of many enthusiast’s desires. What happens there is Nike will do what’s called a limited shoe drop at a few unpredictable stores.
I think you need to observe buying and selling in sneaker culture if you think voluntary rationing is a solution to price gouging. P.S.: This is partially a response to some statements made in the podcast with Bryan Caplan as well. When human beings behave rationally and creatively, they reflect the nature of the God in whose image they were created.Īt the very least, one must acknowledge the significant difference between random movement of atoms producing macroevolution across species, and the free, rational choices of human beings producing desirable social outcomes.
JOSEPH SCHUMPETER BOOKZ FREE
I do assert that the aforementioned principles and institutions that make the free market work come from a broadly Christian-theistic worldview. I don’t want to debate the scientific merits of different evolutionary theories. I find it more difficult to believe that the constraints (laws of chemistry and physics) and the participants (matter itself, with no rational capacity) in the natural process could produce such biological order as Darwinian evolution would predict. The participants are human beings with rational and creative capacity. The constraints in which a “free market” produces order are principles like private property, protection from involuntary imposition of cost, individual liberty, etc. The two key differences between the two ideas are the rules of the systems in which “agents” live (institutional constraints, I suppose), and the participants in the systems themselves. I would place myself in this category, and I see no inherent logical contradiction between these ideas. Some writers whom I’d consider my ideological soulmates are my exact religious opposites.Īs Russ said, there are those who see evidence of design in nature and are led to believe in a Creator, but who also acknowledge the wonderful emergent orders produced by a free market.
Writers should include a daytime telephone number.I’ve found Russ’ comment about the religious commitments of “free-market believers” to be remarkably true. Anonymous correspondence will not be published. JOIN THE DISCUSSION: Send us an email with your comments to Letters of more than 300 words will be edited for length. Whether the raising of interest rates is part of the solution depends on who you talk to. This is the opportunity to drastically reduce the unemployment rate, especially of the youth, by using the current economic state of affairs to stimulate economic growth. It will mainly depend on how opportunities are used by decisionmakers in stimulating economic growth.Įconomic growth can be achieved through a meticulous balance of creating a conducive economic environment for foreign direct investment to come in, growing of the middle-class and an integrated national social safety net system to keep the poor out of poverty. In SA people are always uneasy about rate hikes that are fuelled primarily by global inflation due to geopolitical tensions.Īre higher interest rates going to reduce the current domestic “spiralling inflation crisis”? I reckon most probably yes.
Can economic growth be achieved in the midst of rising unemployment? That sounds like an oxymoron, right? The most common answer would be: most unlikely.Īustrian-American economist Joseph Schumpeter introduced the concept of interest rates as a determinant of savings, which is an important factor in economic development.
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