What Happens When Government Subsidizes Demand but Restricts Supply?
Give every buyer $100,000 when there are still only ten houses, and the check goes to the buyer while the money goes to the seller. How much depends on one thing: supply.
Zesht principle
Every subsidy has an incidence
Someone receives the benefit. Someone finances it. And sometimes part of the subsidy ends up captured by a producer through higher prices instead of remaining with the intended recipient. Zesht follows the money.
California Cut What It Pays for Rooftop Solar. Did It Fix the Right Problem?
Under NEM 3.0, an exported kilowatt-hour can earn a fraction of a cent at spring noon and over a dollar on an August evening. That's a price telling the truth. Is the rest of the bill?
Did Student Loans Make College More Expensive?
The easy version says loans caused expensive college. The evidence says something more specific — and more useful: schools capture aid where buyers stop comparing prices.
The rest of the framework