Tag Archives: economic efficiency
Too much stuff: the deadweight loss from overconsumption
In a simple supply and demand world there are two sources of waste. Underconsumption is the first. It occurs when taxes, price ceilings, price floors or other interventions prevent the economy from reaching the free market equilibrium. Consumers would like to buy, suppliers would like to sell, but they cannot make a mutually beneficial exchange […]
Why Medicare Vouchers Are Inefficient
The little-known microeconomics textbook Zowning and Bupan does an excellent job of presenting the case against medicare vouchers:
Worthwhile Canadian Initiative 
Recent Comments