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Market Failure

MARCH 11, 2013

Occurs when the outcome in a free market is not efficient, meaning that there is another possible outcome where scarce resources are allocated in a way that creates greater net benefits. Many economists and politicians view a market failure as grounds for economic intervention by the government.

Steve Horwitz - Regulation and Intervention

Mark Hendrickson - The Truth About Monopoly and Antitrust

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WABI-SABI

JPMorgan’s Blunder Is No Market Failure

Imperfect knowledge is not an argument for government oversight.

MAY 15, 2012 by SANDY IKEDA

Neither losses from error nor profits from good decisions are grounds in themselves for tighter regulation.

THE CALLING

The Failure of Market Failure

How about government failure?

DECEMBER 08, 2011 by STEVEN HORWITZ

Which process has better built-in mechanisms to provide the knowledge and incentives necessary to notice imperfections and improve on them?

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Uneven Information Causes Market Failure?

Market-Failure Arguments Ignore Incentives for Market Participants to Overcome Assymetric Information

DECEMBER 01, 2007 by JOSHUA C. HALL

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Regulations Improve the Free Market?

The Source of Most "Market Failures" Can Be Traced to Government

NOVEMBER 01, 2005 by ARTHUR FOULKES

Despite its remarkable record the free market remains for many people a tough sell. Even those who on balance support free enterprise hesitate to give unregulated market forces their full endorsement.

IT JUST AIN'T SO

Enron and Argentina Are Examples of Market Failure?

Deregulation Is Not the Culprit

MAY 01, 2002 by THOMAS J. DILORENZO

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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