A lot of people understand that "price controls" are bad and cause shortages. I wish there was an equally snappy term for "subsidizing demand while there are legal or systemic obstacles to increasing supply". I still suspect "cost disease" will turn out to be straight-up this.https://twitter.com/cheapseatsecon/status/1183937544448335872 …
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Replying to @ESYudkowsky
1) subsidized tulip manias 2) subsidized monopolies 3) tulip subsidies i think i like 3) the best, but it still isn't quite there
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Replying to @metapotat @ESYudkowsky
the mania isn't an essential feature of the problem, but the example is so evocative. alas.
10:28 AM - 15 Oct 2019
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