Sorry for the delay in updating. The past couple of days in class we have been discussing the rationing mechanisms of economic systems. Very interesting. Students acknowledge the existence and adherence to several options of the mechanisms presented, but prefer the competition created in the price system. First come, first serve is chosen when we believe we understand the rules of being first. Merit or need is chosen when we believe we are more needy than our competition, or when we believe we are better than the competition. We prefer the price system, it’s anonymous, and it sends clear signals as to how much labor we need to exchange for the things we want.
Today2-7. We are finishing this and beginning to work on our papers for the quarter.
