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Power >>>>> money — Scott Sumner

Summary:
How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.Suppose instead that we ration by political power—give it first to people with lots of clout:The Money IllusionPower >>>>> moneyScott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University

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How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?

If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.

Suppose instead that we ration by political power—give it first to people with lots of clout:

The Money Illusion
Power >>>>> money
Scott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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