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IPI Policy Basics: What is a Price? (Audio: Podcast)

There’s a lot more going on behind the price of a pint of strawberries than just an arbitrary number. Prices convey information—an enormous amount of information. And if we understand the importance of price in signaling, rationing, and incentivizing production, then it’s obvious why government price controls and “price gouging” laws are a terrible idea.


2021_07_29 IPI Policy Basics What is Price