If this is the market working, what is failure?
Posted by Graeme in Market failure at 7:54 am on Monday, 31 March 2008
Brain Caplan thinks markets work fine despite having to wait 19 years to be able to a product with a tiny marginal cost of production: i.e. he spent 19 years waiting on the supplier’s whims just to buy allowed to buy some music. (more…)
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