More good Smithian analysis

Andrew Cassel on Philly.com visits a base ball game and notes that it was followed by an hour of fireworks costing around $100,000 paid for as a marketing expense by “Independent Blue Cross”, a health fund that acts as a non-competitive business.

He points out that Adam Smith said that countries that prevented competition in certain markets did worse than those that didn’t. Good sense; good insight; good point.