Rising prices or quantitative rationing?

European countries are currently suffering from a loss of resources (available supply) for many commodities (energy, agricultural commodities, metals, etc.). So what is the optimal reaction to this loss of resources? There are two extreme possibilities: Letting the market mechanism (the competitive equilibrium) operate, and let ting prices adjust to rebalance supply and demand for the various commodities; Not allowing price movements, and rationing demand for commodities to balance supply and demand through quantitative rationing. From a microeconomic point of view, the competitive equilibrium dominates the equilibrium with rationing in terms of overall well-being, since it leads to an increase in the relative prices of goods for which there is an initial decline in supply, which stimulates production and ultimately reduces the magnitude of the loss of supply. But from a redistributive point of view, the competitive equilibrium can generate difficulties that the equilibrium with rationing does not. This is because if goods whose supply is declining are essential goods for consumers, the increase in their price can lead to a major levy on the income of low-income households . The best is of course to choose the competitive equilibrium associated with the necessary redistributive policies (real redistributive policies, not debt-financed public transfer payments).