Rationing and Allocating
When economists talk about price rationing,
non-economists often do not understand. This article from
AmosWeb explains the concept:
www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=price+rationing
CyberEcononics explains rationing by coupon in the
U.S. during World War II. Here are a couple of sites that
look at rationing by coupons in the UK during World War
II:
www.woodlands-junior.kent.sch.uk/Homework/war/rationing.htm
museum.woolworths.co.uk/1940s-byebye6d.htm
Frank Levy, who is responsible for some very clever
interactive graphs to which these pages of Alternatives and
Supplements link, here writes about the distribution of
income in the U.S. for The Concise Encyclopedia of
Economics:
www.econlib.org/library/Enc/DistributionofIncome.html
Roger McCain's explains the Lorenz Curve. This page is
the first of several that develop his explanation. Click on
his next button to get the whole discussion, including a
discussion of the Gini coefficient.
william-king.www.drexel.edu/top/prin/txt/factors/dist3.html
A blog at Economist.com talks about the importance of
information in prices, with a lengthy quotation from
Friedrich Hayek:
www.economist.com/blogs/freeexchange/2007/04/the_power_of_prices.cfm
Maybe I should have given something from Wikipedia here
because it seems that the economics of information coming
from Hayek was a source of inspiration for Wikipedia:
www.reason.com/news/show/119689.html
Government subsidized bread in Egypt has led to many
problems, as this article in The New York Times
explains:
www.nytimes.com/2008/01/17/world/africa/17bread.html
Hugh Rockoff explains price controls in this long but
informative entry in The Concise Encyclopedia of
Economics:
www.econlib.org/LIBRARY/Enc/PriceControls.html
Here
is an article that explains the Austrian point of view in
the socialist calculation debate of whether a socialist
economy could be economically efficient:
the-idea-shop.com/article/97/the-socialist-economic-calculation-debate-and-the-austrian-critique-of-central-planning
An explanation of consumer sovereignty from The Quaker
Economist:
www.quaker.org/tqe/2003/TQE067-EN-Consumer.html
What CyberEconomics calls destabilizing feedback
is often called positive feedback. Except when it is called
negative feedback. Confused? So is the The Wall Street
Journal:
blogs.wsj.com/economics/2008/02/21/negative-feedback-on-economys-negative-feedback-loops/
(I have not yet found a suitable entry here.)
These links were checked on July 5, 2008.
 
Copyright
Robert Schenk
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