Supply, Demand, and English Food
http://web.mit.edu/krugman/www/mushy.html
Well, the whole
point of a market system is supposed to be that it serves consumers,
providing us with what we want and thereby maximizing our collective
welfare. 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.