"I fear it’s already too late for Britain"
"Kenneth Rogoff welcomes economists' recent reassessment of the costs and benefits of public borrowing"

"Welcome to Pricing Hell"

Yes, but nowhere is it written that consumers must get all the surplus from trade.

Arnold Kling noted the importance of price discrimination years ago:

When I taught AP economics in high school, I taught that price discrimination explains everything. That is, most real-world business practices that might seem odd can be explained as attempts to charge more for consumers with the least elastic demand.

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