Thinks 308 “Over the next year, we will shift further from a physical product-based economy to one that is increasingly digital and subscription-based. Subscription companies have grown where most have contracted, and it’s not just the consumer industry. Platform and software-as-a-service are growing more critical to business operations. This is exactly why it’s key that businesses are aware and awake to the changes this is having on what customers want and expect from their experience.”

Art Carden: “Price controls force prices to lie. Minimum wages give suppliers (workers) incorrect information about what their labor is worth and demanders (firms) false information about scarcity. The result is an outcome that leaves us worse off in a couple of ways. First, there are unconsummated transactions that would have made both firms and workers better off. Second, lying prices make people waste resources searching for jobs that would be easier to find but aren’t there because the higher minimum wage has reduced the amount of labor firms want to hire. Price ceilings do the same thing. Consider rent control. The Swedish economist Assar Lindbeck once said it’s the fastest way to destroy a city other than bombing it. Just as a minimum wage means unemployed surplus labor, rent control means excess demand for unsupplied rental housing.”

Watched: Dune

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.