ECONorthwest’s Kevin E. Cahill, Melissa Carson, and Annalise Helm published an op-ed in Idaho Business Review that highlights the role of prices in addressing shortages. They note that in 2021 we are facing a tradeoff: “We can try and let markets work their magic through price signals and absorb the pain that comes with higher prices. Or we can mute the price signal and live with empty shelves, lack of staff and not enough foam. Pick your poison.”
The views expressed in the article are solely those of the author and do not necessarily reflect the views or opinions of ECONorthwest.