To get a really catastrophic misallocation of resources, it seems to take a government; corporations can only screw things up on an artisinal scale.
To get a really catastrophic misallocation of resources, it seems to take a government; corporations can only screw things up on an artisinal scale.
Bhopal?
Misallocating toxic gas is pretty bad…
The dot-com boom saw some good examples.
Bhopal? A few thousand killed – chump change. Misallocation of resources by government in India, until recently a very dirigiste economy, kills more than that in a week, every week. No private company ever caused a famine. The Bengal famine killed three million. Amartya Sen points out that famines are exclusively government-produced. Gluts and shortages are exclusively the domain of politicians.