Let's go back to Econ 101: When you constrict the supply of an item and have constant or increasing demand, price must increase.

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This op-ed is based on an article published in the May 2010 issue of the journal he edits, Econ Journal Watch, a project sponsored by the American Institute for Economic Research.

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Nassim Nicholas Taleb, author of The Black Swan (the bestselling econ-philosophy book, not the flick), is someone who has made just such an effort to grace the world with discrete shavings of his perspicacity.

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