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Why Free Markets Can Sometimes Turn into "Peacock Markets": The Evolution of Credit Cards
credit cards lock-in peacock regulation
2011/8/22
The credit card market has evolved into what is defined here as a "peacock market." Analogous to extravagant and inefficient male peacock displays, a "peacock market" has developed to become dominated...
THE ARGUMENT FOR FREE MARKETS：MoRALrn~VS. EFFICIENCY
FREE MARKETS political liberty (democracy) First Principle
2008/11/19
Freedom canbe preserved only ifit is treated as a supreme principle
which must not be sacrificed for any particular advantage.
—F. A. Hayek