A few days back, I suggested that maybe if the London police weren't arresting so many people for
"ticket scalping," entering into voluntary ticket transactions
, perhaps there wouldn't be so many
empty seats at the Olympics.
Tim Worstall provides some related commentary in the The Daily Telegraph article
titled "Of course there are empty Olympic seats: our Victorian government is arresting
anyone who tries to sell them," here's an excerpt:
"Think it through for a moment. There are some people over here that have
something they don't value, while there are other people over there who value
those things highly. What we'd like is for those things, whatever they are, to
move from those who assign little value to them to those who assign a higher
value to them.
This is true of anything: this movement of resources from lower to higher
valued uses is known as "creating wealth." It is the single most important
contributor to the wealth of nations. It is known as "trade."
And our government, in its wisdom, has made it illegal for anyone to broker
this increase in individual and national wealth, resulting in the TV cameras of
the world panning across rows of empty seats."