Economists who defend disaster profiteers are wrong

Increased production doesn’t occur because the economics don’t work, it doesn’t occur because there’s just no way to physically ramp up production that fast. That’s not really a critique of the economics. If production could be increased that fast the manufacturers would.

An important point the article didn’t address is that high prices direct resources to more important uses. If prices are very high then hospitals may be the only ones who can afford them, versus people on the street.

Outlawing price gauging alone just ensures masks go to people who don’t need them as much as doctors. Price ceilings don’t force masks to go to doctors. That’s why governments are forcing masks to go to healthcare, regardless of price.

It's complicated. On the one hand stockpiling in times of plenty and releasing it in times of scarcity is good.

On the other hand, cornering the market for an essential good when there isn't even an underlying production issue is bad.

And increasing production of scarce goods is a good thing.

By the logic of economists slavery and indentured service, etc are good ideas. Because by economist logic anything that produces more money is better, irrespective of the cost accrued by others.

Slavery, and follow on policies of indentured service, crop sharing, etc are the only reasons the pro-slavery states maintained economic relevance as long as they did.

I could see indentured servitude being acceptable. Btw, is debt different?