@ProfessorZaius @_Hurlock_ Sole Austrian 'policy' recommendation is "don't try to second-guess the market".
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@_Hurlock_
@Outsideness "market failure" is a term in economics meaning a situation in which a free market does not result in efficient>1 reply 0 retweets 0 likes -
Replying to @ProfessorZaius
@_Hurlock_
@Outsideness allocation of goods. It's whenever a market is not Pareto-optimal. http://en.wikipedia.org/wiki/Market_failure …1 reply 0 retweets 0 likes
Replying to @ProfessorZaius
@ProfessorZaius @_Hurlock_ All the sources of market failure are more probable in government action. (Go through the list.)
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