FINANCIAL TIMES: Outrage at Grenfell Tower is a chance to fix housing policy

  • Diane Coyle

Press/Media: Expert comment

Description

There is an old joke about two free market economists walking along the street when one spots a £20 note on the floor. “Hey, I’m going to pick that up,” he tells his companion. “Don’t be stupid,” the other says. “If it were really there, someone would already have taken it.”

The moral of the joke can be read in reverse: if the market were really going to fix something, it would have done it already. This is the story of the UK housing market.

Period20 Jun 2017

Media coverage

1

Media coverage

  • TitleOutrage at Grenfell Tower is a chance to fix housing policy
    Media name/outletFINANCIAL TIMES
    Media typeWeb
    Country/TerritoryUnited Kingdom
    Date20/06/17
    DescriptionThere is an old joke about two free market economists walking along the street when one spots a £20 note on the floor. “Hey, I’m going to pick that up,” he tells his companion. “Don’t be stupid,” the other says. “If it were really there, someone would already have taken it.”

    The moral of the joke can be read in reverse: if the market were really going to fix something, it would have done it already. This is the story of the UK housing market.
    URLhttps://www.ft.com/content/93e8bac6-5424-11e7-9fed-c19e2700005f
    PersonsDiane Coyle

Keywords

  • Grenfell Tower
  • economics
  • housing