If there’s no market …
In 1964, Sears advertised a TV console for $750, writes Mark Perry on Carpe Diem. For an equivalent amount, about $5,500, a consumer today could buy “8 brand-new appliances (refrigerator, freezer, dishwasher, range, washer, dryer, microwave and blender) and buy 9 state-of-the-art electronic items (laptop, GPS, camera, home theater, plasma HDTV, iPod Touch, Blu-ray player, 300-CD changer and a Tivo recorder).” In short, things are a lot cheaper.
This illustrates The Desperate Need for Market Forces in Education, writes Matthew Ladner, guesting on Jay Greene’s blog.
We live, in short, in an age wonders, except of course for areas of the economy heavily managed and financed by the government,” Ladner writes. “In those areas, instead of radically improving
