“We’re so much more rational in sports,” says Thomas Sowell, than in economic policy.
Here Sowell clarifies a major policy issue that flows from the “market failure” analysis that grew out of “perfect competition” models in modern economics. But without the math.
1 reply on “Video: Comparative Imperfections”
When the market stops being merely the means to an end and becomes an end in itself, it stops being a market and becomes a protected/corrupted part of the government and no better than any other way of usurping power. Unless physically restrained or imprisoned, the productive people will eventually just take their money and leave.