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The Adam Smith Institute
The Adam Smith Institute is the UK's leading innovator of free-market policies. Named after the great Scottish economist and author of The Wealth of Nations, its guiding principles are free markets and a free society. It researches practical ways to inject choice and competition into public services, extend personal freedom, reduce taxes, prune back regulation, and cut government waste.
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Tickets allocated efficiently
By Dr Madsen Pirie
It is filthy money made on the back of the poorest people on the planet. Stick it where it belongs… The people who are selling these tickets on websites are miserable wretches who are capitalizing on people's misery. I am appealing to their sense of decency to stop this disgusting greed. Well, yes. But since there was a rigged market, with tickets allocated by lot, what does he expect unsuccessful applicants to do? Note that no money is raised to combat poverty; the only goal is to raise 'awareness.' If tickets had been sold to highest bidders, millions would have been raised. As it is, those on whom fortune has smiled and who'd rather have the money tried to sell their tickets to those who'd rather have the concert. This seems not so much 'sick' or 'filthy' as a straightforward satisfaction of demand. There was nothing wrong with it. Feedback
Please note: as of September 2005, all comments, as well as the comment posting facility moved to our new blog.
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Adam Smith Institute Tel +44 (0)20 7222 4995  Adam Smith (1723-1790)
Adam Smith was the great Scottish philosopher and economist best known for "The Wealth of Nations", his pioneering book on free trade and market economics.
A wide selection of material about Adam Smith is now available on the Adam Smith website. This includes the full text of his two major works, The Theory of Moral Sentiments and The Wealth of Nations. |
Bob Geldof has branded the sale of Live 8 tickets on the internet auction site eBay as "sick profiteering" (