The Transylvania Times -

Government Action With Naïve Expectations


March 23, 2017

As a BC graduate I can remember how in Introduction to Economics course we learned about market failure theory: an outcome where the market system fails to produce optimal outcomes, requiring government intervention. Yet, very little attention was given to the dynamics of government action and its subsequent possibilities of failure.

Type “failure of capitalism” or “free markets don’t work” to Google and you will find countless articles, books, videos, movies and podcasts. Some of these are decent attempts to discredit the power of capitalism, but most are horrendous efforts to...

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