Let the going nuts commence:
Real Katrina hero? Wal-Mart, study says
"Profit-seeking firms beat most of the government to the scene and provided more effectively the supplies needed for the immediate survival of a population cut off from life's most basic necessities," Horwitz wrote in the study, which was published by the Mercatus Center at George Mason University in Fairfax, Va. "Though numerous private-sector firms played important roles in the relief operations, Wal-Mart stood out."
Stuff Mentioned That White People Hate:
free market solutions
corporations
evil Wal-Mart
the government sucking
bottom-up problem solving
how price gouging saves and appropriately distributes resources
(This blog post patterned off of the White People in the News category at Stuff White People Like.)
Posted by Sarah at April 3, 2008 07:18 AM | TrackBackhow price gouging saves and appropriately distributes resources
That is one of my favorite and so misunderstood economic concepts. People were going nuts that ice was selling for $50 a bag after the hurricane on Kauai: well, um, this might save someone from just buying it to cool their beer, so that someone in genuine need (needs to keep medicine cold) can buy it, at an albeit outrageous price...but it's still there...whereas otherwise it would be melted in some beer cooler.
Thanks for linking to this.