Theresa O’Connor

Use markets

At the University of Chicago, economists lean to the right of the economics profession. They are known for saying, in effect, “Markets work well. Use the market.”

At MIT and other bastions of mainstream economics, most economists are to the left of center but to the right of the academic community as a whole. These economists are known for saying, in effect, “Markets fail. Use government.”

[Economists at George Mason say], “Markets fail. Use markets.”

Arnold Kling (linkification mine).