What happens to the price of hotels in Rome when the Pope dies? The market experiences shock that, in macroeconomic terms, would seem to destabilize the system. Still, with careful planning, the market manages just fine. FULL ARTICLE by Christopher Westley
Source link: http://archive.mises.org/13757/habemus-economistem-some-economics-of-papal-deaths-and-successions/
Habemus Economistem: Some Economics of Papal Deaths and Successions
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Melius esset si scripsisses: “Habemus oeconomistam” vel “Habemus oeconomicum”
http://la.wikipedia.org/wiki/Oeconomia
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