Markets vs. Committee

Box office receipts tell us which movies the public, in general, preferred.  The Oscars tells us which movies a small group of people preferred.

As people who follow the Oscar’s each year should know, these two sets of preferences don’t often line up.

When we hand over large swaths of our markets to committees, we may satisfy the preferences of the committees, but not the everyone else.

Imagine a world where only the Oscar-worthy movies were made. ┬áConsider which of your favorite movies wouldn’t exist.