Industrial Economics
The Darlington Bus War is widely discussed in the topic of Industrial Economics after being publicized by the highly regarded micro-economist Daniel McMahon. It serves as the perfect example to demonstrate the effect of price wars and also incorporates the debate on Nationalization vs Privatization. The Darlington Bus War has arguably been the focus of his research as demonstrated in his 2009 article Global Crises and Darlington's Bus War.
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Famous quotes containing the words industrial and/or economics:
“I am convinced that ... we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented.”
—Herbert Hoover (1874–1964)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)