Patrick Newman (@drpatricknewman) 's Twitter Profile
Patrick Newman

@drpatricknewman

Economist. Professor. Author of Cronyism (2021) and editor of two Murray Rothbard books.

ID: 1386306257183719427

calendar_today25-04-2021 13:09:12

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Patrick Newman (@drpatricknewman) 's Twitter Profile Photo
Patrick Newman
@drpatricknewman

a month ago

Great WSJ article about how technology makes obsolete the menu cost argument for sticky prices. It explains how competition encourages businesses to cut prices when demand declines and how the fear of regulatory threats disincentivizes them from raising prices when demand surges.

Great WSJ article about how technology makes obsolete the menu cost argument for sticky prices. It explains how competition encourages businesses to cut prices when demand declines and how the fear of regulatory threats disincentivizes them from raising prices when demand surges.