Peter Marklund

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Tue August 13, 2002

A Great Economic Mind Explains Bad English Food

I found a hilarious text by Paul Krugman that shows once again what a great writer he is. Here is an excerpt:

"But the history of English food suggests that even on so basic a matter as eating, a free-market economy can get trapped for an extended period in a bad equilibrium in which good things are not demanded because they have never been supplied, and are not supplied because not enough people demand them."

Mr Krugman is working on a new major textbook in economics that I just have to get once it's published. The reason I checked back on Krugman's homepage was that I read an article in the Economist about Rudi Dornbusch who recently passed away. Apparently Rudi Dornbusch had a great influence on Paul Krugman. They have both had a rare talent for making the seemingly dull subject of economics quite exciting.

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