Before Jimmy Carter bought into the deregulation mania of the 1970s, you could book a round-trip itinerary without making sure that both legs were on the same airline. Here in 2010, I just heard an Expedia ad that touts that as a great new selling point.
Is 35 years long enough to prove that the free market is often not efficient?
Update (8/4): The free market seldom takes this long to discover opportunities such as these to screw us, purely as a result of their market power.
Monday, August 2, 2010
Practical economics
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