When Supply and Demand Works

In a society where everyone had roughly equal wealth, the law of supply and demand would work extremely well to allocate scarce resources to the most crucial needs and to persuade people to husband them carefully. However, when there are extreme differences in wealth, it does not work as well. A rich person tends to be allocated scarce resources just to satisfy trivial needs. The system degenerates into a queue where the richest people go to the front.

~ Roedy (1948-02-04 age:69)