Perhaps I should point out a few things:
- This article is part of an ‘Introduction to Economics’ series — and is intended to be useful to people who have never read The Economist even once, let alone 300–400 times.
- Even a lot of people who have read The Economist hundreds of times often understand very little about the fundamental concepts of Economics. Many people who write in The Economist understand very little about Economics.
- Perhaps one of the reasons Economics students often fail to fully grasp some of the most fundamental concepts, is that they often get bogged down in looking at ‘real life’ case studies. My series, therefore, deliberately keeps things simple and concentrates on the concepts themselves and avoids statistics and detailed case studies. These are available elsewhere, of course.
- The article is not saying that there are any states who interfere too much in the market overall. It is saying that governments ought to think carefully before they intervene.
I hope that helps to explain where I’m coming from with this article. Of course, if you’d started with Lesson 1, instead of Lesson 14…… :)