krapte

Krapte is a term used in Dutch and borrowed in several languages to describe a state of shortage or tightness in the availability of goods, labor, or other resources. In economics and public discourse, krapte denotes a condition in which demand for a good or service exceeds supply at prevailing prices, leading to shortages, longer wait times, or higher prices. The noun derives from the Dutch adjective krap, meaning tight or scarce, and is commonly compounded in Dutch to form terms such as arbeidsmarktkrapte (tight labor market) and woningkrapte (housing shortage).

Causes and effects: Structural demand growth, supply constraints, cyclical fluctuations, and policy settings can create krapte. Consequences may include higher wages, price increases, longer delivery times, reduced mobility, and increased investment in capacity or substitutes. It is often observed in specific sectors such as housing, labor, or energy, while broader macroeconomic conditions can amplify or dampen its impact.

Measurement and policy: Indicators include vacancy rates, price movements, time-to-fill metrics, and construction or permitting data. Policy responses are typically targeted rather than universal, such as training programs, incentives to expand capacity, immigration or mobility measures, and, in some cases, temporary price adjustments or allocation mechanisms designed to ease bottlenecks.

History: The concept has long been discussed in economic thought, with contemporary usage common in the Netherlands and in regional policy debates. Persistent krapte is commonly linked to demographic trends, globalization, and investment cycles, prompting ongoing attention from policymakers and stakeholders.

See also: shortage, scarcity, inflation, rationing, labor market.