Kling on Prices

quotes economics prices

24 Aug 2020

Arnold Kling on prices:

When we can easily discern how well goods and services meet our goals, products become better and cheaper. On the other hand, when goods and services are related to important goals but their marginal effects on achieving our goals are difficult to separate out, we are willing to throw more resources at them — and just hope that we get something out of it.

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