Looters

I've got a blog post up at the IEA about Anna Gilmore's latest stab at economics. She still doesn't understand what 'market failure', 'monopoly' or 'profit' mean, but she does want more money.

A curious little idea was reported by the BBC and the Telegraph this week, when two academics from Bath University called for the UK’s tobacco industry to be ‘regulated like water companies’. Anna Gilmore of the UK Centre Tobacco Control Studies - a campaign group based at the University - came up with the ruse in 2010, but it got no media attention until it was repackaged this month with the fictitious ‘Ofsmoke’ added to the mix as a potential regulator...

Do go have a read.