The high level commissions that examined current failures began to suspect that these reflected longstanding, basic faults.

CENTERFORSECURITYPOLICY: Why US Intelligence is Inadequate

At one point recently, annualised turnover reached 1, 100% of market capitalisation. (Compare that with America's Nasdaq market, which barely turns over more than three times in a year.) Now that more than half of all trades take place online, however, the level of average commissions has more than halved.

ECONOMIST: Korean finance

Another example: Brokerage commissions for buying and selling stocks were once set by the SEC at a fixed level.

FORBES: Is There A Real Cure For Health Care -- Or Any Market?

The College-Level Examination Program, run by the College Board (the institution that commissions the SAT entrance test), allows students to study on their own, then take a competency test in one of 33 subjects and get college credit for passing.

FORBES: Paying for College: The Three-Year Degree

Industry wide individual client brokerage commissions peaked in March 2006 at over JPY 300 trillion annually have been plummeting to a current level roughly half that (see graph).

FORBES: On-Line Brokers and the (Unfulfilled) Promise of Tokyo's "Big Bang"