IPI Policy Basics Podcast
IPI Policy Basics Podcast
The Institute for Policy Innovation
IPI Policy Basics: What is a Price? (Audio: Podcast)
1 seconds Posted Jul 29, 2021 at 4:11 pm.
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There's a lot more going on behind the price of a pint of strawberries than just an arbitrary number. Prices convey information--an enormous amount of information. And if we understand the importance of price in signaling, rationing, and incentivizing production, then it's obvious why government price controls and "price gouging" laws are a terrible idea.