Dr. Mark Perry, economics professor at the University of Michigan and blogger at Carpe Diem joyously announced that the closing of Borders’ last bookstore on Sunday, September 18th “is a glorious, beautiful thing.” He said:
In the rearrangement of resources to serve customers we see the beautiful actions of the market economy reconfiguring the world to provide goods and services that are most wanted and needed in the most effective way.
It was those customers who built Borders into the world’s second largest bookseller from its first location — a humble second-floor used-book shop in Ann Arbor in 1971 — into a world-wide operation with over 1,000 stores. It was those same customers who, 40 years later, humbled Borders into bankruptcy and liquidation.
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Borders’ Ann Arbor Store (pictured)