I agree with the general sentiment in this article. Price as a mechanism to coordinate supply and demand is underappreciated by the general public. You can use it to control the level company-internal resources are used so it stays within reasonable bounds and doesn't grow a huge backlog.

You can even use a price to make distributed, globally optimal decisions on product decision. If e.g. time to market is a scarce resource in your project, you can tell everyone that if they can reduce time to market without costing the project budget more than $x/week saved, they need no permission to adjust the requirements -- they should just go ahead and do it. (Boeing used this except for a weight problem with one of their models.)

I have but one quibble: the first point starts out true but then does a correlation-is-causation error right after that.

> 1) Broad money supply and price inflation are rather correlated.

> The most precise way to phrase it is that rapid money supply growth is necessary but not sufficient to cause widespread price inflation.

The alternative perspective here is that obviously money supply and inflation is correlated, but for exactly the opposite reason: when prices go up without real values changing, people are still going to need the same real stuff, so banks and governments will print more money so people can afford the things they need.

In other words, money supply could be a symptom of inflation as much as a cause.