I wrote a short article for Mises.org back in April 2020 talking about how independent vendors of medical masks were fined for reselling PPEs when they were in short supply at stores and pharmacies.
I was asked by my friend Dr. Walter Block, a libertarian scholar and professor of economics at Loyola University at New Orleans, to expand on that article. My publication now appears in Studia Humana, a peer-reviewed quarterly journal on political science and political economy from the University of Information Technology and Management in Poland.
What does this publication have to do with resume-writing, you ask? Providing resume services, like any other service, is subject to the laws of supply and demand. If I charge too high of a price, demand lowers; if I lower my price, demand increases.
When government intervenes in the price that I set, you get perverse outcomes. Setting price controls on goods and services lead to shortages, especially during states of emergencies. Conversely, setting price ceilings leads to over-supply of any given service or product.
For our economy to operate at its most efficient, we need to government to stay out of the market and refrain from intervention. It is in this way that the market can allocate scarce resources, for entrepreneurs to aspire to their full potential in serving the needs of consumers, and for consumers to pay for goods and services at prices dictated by the market (e.g. other buyers), and not the government (e.g. bureaucrats and officials).
Have a look at my article and see if you agree with me.
