The typical method of presenting supply and demand in high school classes often leaves students with an impression that markets are simple and function effortlessly. In reality, the effectiveness of markets depends on the quality of complex institutions such as private property and property-rights enforcement. Students often do not realize that…

The Detroit Public Schools (DPS) have been battered by substantial outside forces over the last decade. The school system was taken over by the state; its elected school board was dissolved and replaced by an appointed body; its many operating systems were privatized; its citizenry were encouraged to flee to charter schools; and its resources have…