hadynyah/Getty Images Recent images of long lines at the Mount Everest base camp, and at choke points on the way to the summit, offer a perfect real-world example of mismanaged supply and demand. As in a number of other economic-policy areas, a combination of price adjustments and regulation offers the only way off the mountain.
LONDON – Like many others, I was shocked by recent images showing the size of the queue that formed in May to scale Mount Everest, the world’s highest peak, from the Nepalese side. The idea that delays caused by overcrowding may be partly to blame […]
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