We rarely seem to discuss the most basic kind of market failure: insufficient liquidity. Just not enough buyers and/or sellers to make a market. Any good writings exploring this, preferably essays over books?
Though that sounds more like 2nd order liquidity problem in instruments (deflationary currency) rather than lack of liquidity in demand/supply for specific commodities or services
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The latter was also distorted due to strong protectionist policies being a feature of international trade, boom/bust cycles but I’m not versed in tariff history or speculation
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