Andrew Coulson of Cato contends that if the auto industry were run like public schools, then you’d have to purchase an old model car at a high price:
What would the U.S. automobile industry look like if it were run the same way, and had suffered the same productivity collapse, as public schooling? To the left is a 1971 Chevrolet Impala. According to the New York Times of September 25th, 1970, it originally sold for $3,460. That’s $19,011 in today’s dollars. If cars were like public schools, you would be compelled to buy one of these today, and to pay $43,479 for that privilege (2.3 times the original price).
Why, though? How did this turn of events come about? More on this later tonight…