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and more of that had every economist freaked out.

And? It isn’t like economics is a science or that economists are on our side. Almost all of them pushed for and apologize for the bailouts.

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Social sciences are never perfect, but there is MORE than enough data points in the world to support the supply and demand model.

Scarcity inflates prices. Humans have literally been documenting this economic phenomenon for over 2000 years.

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I agree social sciences are not perfect but given that Economics isn’t a science I am not seeing the relevance. My brother-in-law is a Lincoln Park fan and I like beer. Do you really need a degree to mindlessly repeat whatever the banks want you to repeat to the middle class that bailed them out? Chatgpt can do it. If you study economics now they are falling over themselves begging for another bank bailout.

Scarcity inflates prices.

In that case asbestos insulated houses with lead paint must be increasing in value.

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I’m referring to the scarcity of goods people want to and need to buy… asbestos is something people actively try to avoid.

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