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by Spivak
1468 days ago
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There's some nuance here because the reason this logic works is that labor is special (to me at least) because measures to forcibly reduce the cost of labor increase human suffering. But for basically every other good prices being driven well beyond the norm (during normalish market conditions) is basically the definition of a shortage. It doesn't really matter if it's a "luxary" good or not (since that category is ill-defined anyway grumble grumble tampons). If the price of milk shot up from $2/gal to $20/gal that's a shortage. |
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Erm, exactly?
If there were a real shortage, salaries would be going up. The fact that salaries aren't going up to counteract that "shortage" tells me that there really isn't one.