Your 2020 Econ Crash Course: The laws of supply and demand have been at work in the pandemic and the protests

By Andy Kessler of The WSJ. Excerpts:

"“The Soviet economy is proof that,” you’ll learn from Paul Samuelson’s 1989 textbook, “a socialist command economy can function and even thrive.”"

"After nights of looting, Los Angeles announced curfews. I watched as protesters trying to make a point (not looters) quietly sat down in the street and were arrested one by one, zip-tied and taken away in modern-day paddy wagons. The next night, crowds dispersed right at curfew. Turns out the police issued $1,000 tickets for breaking curfew—a lot for protesters’ parents to pay. Now that’s a price signal. On the flip side, New York City’s recent restriction of cash bail meant many arrested looters were quickly released so they could loot again."