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Anorak | Idiot Newspaper Headline of the Day

Idiot Newspaper Headline of the Day

by | 24th, April 2012

THE worst headline of the day. From the New York Times :

With Venezuelan Food Shortages, Some Blame Price Controls

“Some”?

It’s one of the most basic concepts in economics. Cut the price of something to below the market clearing price and supply of it will fall and demand for it will rise.

Thus there will be shortages.

This isn’t a mystery: it’s as inevitable as the Sun rising each morning as the Earth spins.

Why does anyone think there’s a couple of million people waiting for council houses? We’ve not got, as you may have noticed, a couple of million people living on the streets. So

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Posted: 24th, April 2012 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink