tag:blogger.com,1999:blog-11679714.post9165732915398282192..comments2024-03-28T21:53:50.039-04:00Comments on Half an Hour: Let the Market DecideStephen Downeshttp://www.blogger.com/profile/06140591903467372209noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-11679714.post-13556608647931632932008-02-08T19:53:00.000-05:002008-02-08T19:53:00.000-05:00As you point out, markets are typically inefficien...<I>As you point out, markets are typically inefficient.</I><BR/><BR/>Yes, but less inefficient than everything else and that's all that really matters.<BR/><BR/>Education is broken because it hasn't functioned in a free market for decades. All the incentives are screwed up today.KDeRosahttps://www.blogger.com/profile/06853211164976890091noreply@blogger.comtag:blogger.com,1999:blog-11679714.post-54643691337583768902008-02-04T23:46:00.000-05:002008-02-04T23:46:00.000-05:00Letting the market decide is as bad as letting the...Letting the market decide is as bad as letting the government decide. Both extremes are evil.<BR/><BR/>As you point out, markets are typically inefficient. That is, in theory, a good market would offer the customers (students) the best product at the best price. Alas, this requires a perfect market, and these things are very rare, indeed.<BR/><BR/>Meanwhile, letting the government decide puts the power in the hands of a few, sometimes a single, civil servant. Oh! Not directly! Sometimes there are elected people who appear to run the show, but they often got elected because they knew how to delegate... These civil servants cannot be fired, or have very good job security. They also tend to think that they know better. They know what is good for you. It just so happen that whatever preconceive ideas they have are the truth.<BR/><BR/>What we need is neither of these two options.Anonymousnoreply@blogger.com