The USA is the richest country in the world. Why can’t we buy our way out of this mess? Why can’t we buy the essentials that other countries have plenty of?
Our shelves aren’t just empty of toilet paper. We also lack life-saving equipment for medical personnel. This isn’t a global problem. Many countries, far poorer than the USA, have both TP and PPE.
Why do we not have these things? It’s simple: we refuse to pay the price. We have an allergy to market prices.
This isn’t a metaphorical claim. Paying a price higher than expected — $5 for a mask that used to cost $0.50 — is painful. It breeds resentment. It creates outcries for government intervention.
Rather than having access to essentials at higher prices, we choose to go without. At least it feels fair. Alas, this isn’t the capitalism I signed up for.