Lots of gems at the article, I won't quote many here because I encourage you to take some time and read it. My favorite quote:
Markets are a product of laws, norms, talent, information, and capital, and the absence of these can readily yield market failures — not because markets do not work, but because markets are not a magical salve.
I am totally fascinated by education policy right now. Is this because it's a compelling topic or because I should be studying for finals? Guess I will know next week.
(H/T Tyler Cowen)