Capitalism Snuffs out the Age of Enlightenment’s Candle

Suppose Paul Krugman, or any other Nobel Prize winning economist, owned an automobile that intermittently broke down but could be made to run again by tinkering with the mechanism. Suppose the breakdowns happened unexpectedly in places that not only caused Mr. Krugman but countless others inconvenience and hardship, as for instance, on a major highway during rush hour, perhaps even causing injurious or even deadly accidents. How many times would Mr. Krugman allow this to happen before coming to the conclusion that the vehicle, regardless of how often it underwent tinkering, would never be a reliable mode of transportation and that it should be consigned to a junk yard? Continue reading