The Tyranny of the Market: Why You Can’t Always Get What You Want
Economists have long counseled reliance on markets rather than on government to decide a wide range of questions, in part because allocation through voting can give rise to a “tyranny of the majority.” Markets, by contrast, are believed to make products available to suit any individual, regardless of what others want. But the argument is not generally correct. In markets, you can’t always get what … [ Read more ]
Content: Book | Author: Joel Waldfogel | Subject: Economics