1. No economic system has been able to respond quickly to the devastation caused by war or natural disasters. Why is the free market system more likely to respond faster?
2 answers
Is it because free market entrepreneurs want to sell their goods and make a profit?
In a free market system there are many entrepreneurs that are out daily by any means necessary trying to succeed. They tend to see misfortune of others as there new fortunes. Years ago they had people known as ambulance chasers who were Lawyers who had short wave radios and listened for police calls. After an accident they would happen they would jump the call and be on site with business cards acting as if they really care.
Due to the laws of supply and demand obviously the materials would cost much more than the past prices. During hurricane Katrina the simple price of OSB went from $6.00 TO $30.00 a sheet and you could not find it in New Orleans, therefore had to pay for shipping to the city.
Due to the laws of supply and demand obviously the materials would cost much more than the past prices. During hurricane Katrina the simple price of OSB went from $6.00 TO $30.00 a sheet and you could not find it in New Orleans, therefore had to pay for shipping to the city.
1 answer