Entrepreneurs who won a city contract for lighting, produced inferior goods and put the profits in their pockets.

ECONOMIST: Ghulam Haider Hamidi

This is a bad analogy because competitive markets require that there be winners and losers and, in this example, it is a good outcome for an inferior car manufacturer's goods to remain on the forecourts, unsold and unwanted.

ECONOMIST: Letters | The

Economists call the things that we spend larger portions of our income on as we get more income superior goods, those that stay static as a portion normal ones and those that shrink as a percentage inferior.

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