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October 19, 2009 Market Failures

A kind reader tells me he likes to visit the site regularly. But he is being too kind.

It is only because of the foolishness of the folks around us that this site is even possible (I’m not creative enough). I actually think someone out there can take that observation as a justification for … taxpayer subsidies of stupidity. After all, the “market” would under-supply interesting blogs were it not for all of this stupidity out there. And since the purveyors of such nonsense cannot exclude me from “enjoying” the fruits of it, there is a textbook economic case to subsidize it, since they themselves may under-provide it. I used to think that such a comment was so beyond ridiculous as to be funny … and then I read something like this.

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