Overshooting the Target

Published June 10, 2022 3:00am ET



Scarcity has been the story of the past year — and much of the past two. First, there was no toilet paper. Then there were Dr. Pepper shortages. When the vaccines showed up, eager arms would stalk the aisles of the supermarket near closing time, hoping to snag the elusive leftover dose of Moderna.

In 2021, it became impossible to buy a car. In 2022, if you wanted to buy (or even rent) a home, you had to make an offer while standing in the foyer.

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