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November 30, 2022

This little podcast was on WNYC’s Marketplace and discusses the rising price of ventilators – current price is $25,000!

This little podcast was on WNYC’s Marketplace and discusses the rising price of ventilators – current price is $25,000!

States and FEMA are separately competing for ventilators, which is driving prices up to roughly $25,000 each. Today, we look at the market forces at work…

Link to the podcast: respirator_prices Note – just need to listen from 0:00 second to about 3:43 seconds.

Suppose, as the Commerce Secretary, you were tasked to investigate, “Should the government impose a price control on the companies that manufacture ventilators?” “What might be the pros and cons of a possible price control on ventilators?” Suppose there was a shortage of pencils and the price rose from 1 cent per pencil to $1.00 – a 100% increase. “Should the government impose price controls on pencils?” In general, “What products or services might call for price controls ?”

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