Imagine being so poor, so deprived of consumer choice and supply, that you’d go to the poorest country in an entire half of the world in order to be able to go shopping. That’s the triumph of Cuban socialism for you right there, the achievement of the Castro rule. Sure, they’ve got free health care and they go shopping to Haiti – yes, Haiti, that place devastated by the earthquake, environmental destruction, the Duvalier dictatorship and the Clinton aid – to buy light bulbs.…See More
An interesting and useful reminder that markets do actually work. Yes, even after earthquakes, with aid agencies like Oxfam around and even in the sex trade. Such voluntary exchange also makes all participants better off. That might not be how some want to think about it but it is still true – we can tell that because people are doing this of their own volition.
It’s also a useful reminder of the manner in which those first couple of pages of the economics textbook are correct.…See More