Governing the traffic commons

posted by
February 22, 2011
Foundation for Economic Education
by Sandy Ikeda  
Posted in Commentary

"As an economics professor, I often witness the surprise of my students when I explain how something as important as the market for food or clothing is self-regulating. True, there are quality and safety regulations that attempt to control potential hazards 'around the edges' of these vital markets, but by far the heavy lifting is done by competition among rival firms in the same industry." (02/22/11)  

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