I blame the Market! No wait… the Government!

The Free Market economic system isn’t perfect, and suffers from a variety of different failures eg. Income inequality, demerit goods, environmental issues (negative externalities) . That’s why countries have a Government – to correct these market failures. But hold on! What happens if the Government fails? Who do we point the finger at now? The Market, or the Government?

market and government failure

5 market failures



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