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Old 07-16-2007, 05:08 PM
Nielsio Nielsio is offline
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Join Date: Aug 2005
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Default Re: Thoughts on Something Milton Friedman Said

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How could you possibly conceive that I would think the purchase of two live chickens on the open market is inefficient in any way shape or form? I ask that question with the caveat that you are informing everything about the particular transaction and there were in fact chickens purchased at market prices.

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I would expect you to say that processing 100 gramms of meat out of 2 live chickens to be wasteful. yes/no?


We can take another example if you want, but we have to keep it simple otherwise there's no way to think clearly about it. Your example included 5 levels of interaction and complexity and god knows what.


Given that it's up to you to provide what *exactly* is wrongful and what *exactly* needs to be done about it, I expect you to be very precise in your definition of the problem, and to provide a clear and understandable example.
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