• Ep 66: Don't Mess With the Price System

  • Oct 1 2024
  • Length: 1 hr and 19 mins
  • Podcast

Ep 66: Don't Mess With the Price System

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  • Summary

  • How do people in society fulfil each other's needs while being self-interested? No human person or committee could coordinate all this -- but the miraculous, decentralised system of prices do exactly this.

    And when you mess with prices, you harm society. Always.

    Welcome to Episode 66 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

    In this episode, Amit and Ajay describe how all interventions in the price system end badly & harm the poor -- from price caps to rent control to the minimum wage to MSPs to import tariffs. Don't mess with the price system!

    By the way, Amit and Ajay have launched their online course LIFE LESSONS. Click here to sign up: https://lifelessons.co.in/

    TABLE OF CONTENTS: 00:00 Packaging 00:13 Intro: The Gravity of Gravity 02:10 Chapter 1: The Miracle of Prices 11:53 Chapter 2: Price Caps 32:18 Chapter 3: Rent Control 39:20 Chapter 4: Minimum Wage 53:06 Chapter 5: Minimum Support Prices 57:54 Chapter 6: Import Tariffs 1:01:55 Chapter 7: Why Don't We Learn? 1:11:46 Chapter 8: Recommendations 1:13:21 Life Lessons!

    For magnificent, detailed, juicy show notes, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.
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