Television Choice Proves That Free Markets Make Everything Better
I found this article about digital video recorders, or DVR’s like Tivo and others, making “prime time” schedules something of a thing of the past pretty interesting because I think it illustrates exactly how free markets work.
It used to be that television, in a lot of ways, was a guessing game. You took the shows you thought were the best and you put them on during prime time (peak viewing hours) and hoped they were a hit with the audiences watching then. If you were right, great. If you were wrong, you lost a ton of money and went back to the drawing board. And it worked the other way too. If you had a show you thought wasn’t so good but it really caught on with the public you could have wasted a lot of money airing it in an obscure time slot.
But now all that is changing. With the advent of DVR it doesn’t matter when a show airs. If people want to watch it they can set their DVR to record it and have it ready when they’re ready to watch. Viewers don’t have to watch whatever happens to be on when they have time to watch TV, and TV programmers don’t have to worry about figuring out when to air certain programs. Which means just about any time slot is now valuable.
Choice, in other words, has made everything better. Quality programming that might have previously been cut because there wasn’t a good time slot for it can now find an audience, and viewers don’t have to settle for whatever happens to be on while they’re watching.
Now apply that concept to other areas of our lives. Like health care, for instance. Currently there aren’t a lot of choices available for health care because with third parties like insurance companies, employers and government picking up the tab for health care nobody has incentive to shop around. But if individuals were empowered to pay for their own health care all sorts of new choices would emerge and prices would drop as clinics and hospitals competed for business.
Education too. Currently most Americans who can’t afford to opt-out of the public school system, and don’t have the time to home school, are forced to send their kids to whatever public school happens to be closest. But if they were empowered with school choice in the form of a vouchers program they could send their kids to whatever schools they wanted, or perhaps even be able to afford to home school. Thus, schools would get better as they compete for students.
See how that works? It’s amazing what happens when people are simply made more free.















