Tuesday, 30 July 2013

In regards to BobE's post, this is the last paragraph in the article by Alex Andreou to which he links:

There is an old joke that goes: how many economists does it take to change a lightbulb? None. If the lightbulb needs changing, market forces will do it. We have given this idea its chance, for more than a century. We are still sitting in a dark room. Maybe all we need is one good electrician.

Well, duh.  Clearly the market has worked and created electricians.