Posted by aogThursday, 06 September 2012 at 13:37 TrackBack Ping URL

Can I just mock people who claim that consumption or aggregate demand creates markets, products, and growth? I am reminded of this by an Instapundit post about hover bikes and flying cars. Why are there no flying cars on the market? There sure as heck is an aggregate demand for them! Yet, oddly, unexpectedly, they are not there. Clearly it’s a market failure that requires government intervention.