Econ 101: The merits of a market economy

The efficiency of a market-based allocation of goods is something taught very early on to students of economics. But once in a while it’s good to remind ourselves of it, especially since it sounds like propaganda in the ear of some. Ask yourself, in which bus shelter would you rather prefer to wait for the bus. The new and shiny one on the picture above where you’re exposed to the latest fashion advertising. Or the neutral one below? Continue reading Econ 101: The merits of a market economy