Tag: price mechanism

A free-market perspective on the environment

Here is a presentation I made today to university students, featuring 'public goods', externalities, possible solutions to the problems of climate change - and how market forces can help to save the planet. I also have a pop at claims that tackling climate change requires a reduction in inequality, having fewer children, attacking big corporations, … Continue reading A free-market perspective on the environment

Can ‘profiteering’ ever be justified?

Given that even ‘profit’ now seems to be dirty word, it is no surprise that being accused of ‘profiteering’ during a crisis is about as bad as it can get. But there are some circumstances when an increase in prices in response to exceptional demand can actually be a good thing. By definition, ‘profiteering’ is … Continue reading Can ‘profiteering’ ever be justified?

The economics and ethics of panic buying

No-one can have failed to notice the half-empty supermarket shelves and long queues for essentials. Loo rolls even rivalled flowers as the Mother’s Day gift of choice. Fortunately, this is one phase of the coronavirus crisis which should be over soon. There appears to be a marked difference between what people say is socially acceptable … Continue reading The economics and ethics of panic buying