The coronavirus economy lives on in suspense, not free fall

Jose Medellin tries his luck winning a roll of toilet paper from a claw machine arcade game at Wizard Hat Smoke Shop in Pflugerville, Texas, on Sunday March 15, 2020.  The arcade game was filled with rolls of toilet paper as a lighthearted reaction to the toilet paper shortage caused by the coronavirus outbreak.  Medellin said he just returned from a weeklong trip to California, and he’s getting low on toilet paper.  “I couldn’t find any toilet paper at H-E-B, and Sam’s Club is out,” he said. “For 50 cents, why not?”


Vernon L. Smith

While on spring break from Chapman University, I am now “confined” by the pandemic to my home in Tucson where I live part of the year. The fourth of four COVID-19 cases in Pima County (population just over one million) was announced as I write this — a haven of safety indeed. But street traffic is heavy, the stores crowded, and people are busily surfing the empty shelves and buying from the shelves not yet empty.

Americans are selling securities and buying toilet paper as Donald Trump urges us all to socially distance ourselves at least six feet from each other and limit gatherings to no more than 10. Local stores have announced that oldsters like me will be allowed to shop their empty shelves for one hour before regular opening time.

There is a deep economic lesson hidden in this rush to stock up on ordinary consumer goods, coordinated spontaneously by common fears of supply shortages and stock-outs.


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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.