A korrentour readingWhat is a korrent?
Drawn from what John H. Cochrane said
price gouging Whether a price should be allowed to spike in a shortage, and what happens to supply when it is not.
Word for word, with the source under each one. They did not write this page.
Economist at the Hoover Institution
But more deeply, if distributional consequences of a shock are important, then hand out cash. So long as everyone faces the same prices.
Where this was said
↗Praise for Price-Gouginggrumpy-economist.com
All 4 korrents from this piecethis one is 3rd
Added to korrents 20 Aug 2024 · How quotes work · Something wrong? Tell us
In tension with
Universal basic income is at most a small part of the answer to AI-driven job loss.
Cochrane’s rule is that if a shock falls unfairly, hand out cash and leave prices alone. Hansson and Amodei both hold that unconditional cash is at most a small part of the answer to AI-driven job loss. Different shocks, and the same question about whether money can substitute for the thing that was lost.
Our reading — they may agree, disagree or merely touch the same thing. Closest first: a shared subject counts for most, then how near the wording is.