In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald CoaseRonnie had it right calling it Torture. That is a much more accurate description the way I see it.
Ronald CoaseI can't remember one [example of regulation] that's good. Regulation of transport, regulation of agriculture - agriculture is a, zoning is z. You know, you go from a to z, they are all bad. There were so many studies, and the result was quite universal: The effects were bad.
Ronald CoaseExisting economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.
Ronald Coase