The Road to Freedom by Arthur C. Brooks

The Road to Freedom by Arthur C. Brooks

Author:Arthur C. Brooks [Brooks, Arthur C.]
Language: eng
Format: epub, mobi
ISBN: 9780465029419
Publisher: Basic Books
Published: 0101-01-01T00:00:00+00:00


THE SECOND AREA of legitimate government activity is “market failure”—specific cases in which free markets don’t function on their own to create efficient outcomes. Since Adam Smith published The Wealth of Nations, nearly all economists have agreed that such circumstances can justify some degree of state intervention in the system—not to weaken free enterprise, but to strengthen it.

There are four sources of market failure: monopolies, externalities, public goods, and information asymmetries.



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