To Regulate or Not To Regulate, That is the Question

The last post on Government regulation introduced gluts and shortages, both undesirable, inefficient and unsustainable–theoretically– in a free market. “Theoretically” because the free market of classical economics is modeled on a world of “complete information, interchangeable goods and services, and lack of market power” — a world that exists only in theory.  Laissez-faire{{1}}[[1]]tr:  Leave [us] alone.[[1]]  gets…

Read More