1 / 7

Markets Never Fail Fred E. Foldvary Dept. of Economics Santa Clara University ffoldvary@scu.edu The State Versus the Ma

Markets Never Fail Fred E. Foldvary Dept. of Economics Santa Clara University ffoldvary@scu.edu The State Versus the Market, I APEE Conference, Las Vegas, April 4, 2006 “Private Solutions to Market Failures: Is Government Always the Answer?” http://www.foldvary.net/works/ mnflv1.html.

heriberto
Download Presentation

Markets Never Fail Fred E. Foldvary Dept. of Economics Santa Clara University ffoldvary@scu.edu The State Versus the Ma

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Markets Never Fail Fred E. Foldvary Dept. of Economics Santa Clara University ffoldvary@scu.edu The State Versus the Market, I APEE Conference, Las Vegas, April 4, 2006 “Private Solutions to Market Failures: Is Government Always the Answer?” http://www.foldvary.net/works/ mnflv1.html

  2. Market Failure: a systemic inability of voluntary economic dynamics to provide the ends desired by the public.

  3. The Universal Ethic: 1. Acts which have welcomed benefits are good. 2. Acts which coercively harm others by initiating an invasion, are evil. 3. All other acts are neutral.

  4. The inability to do what is impossible cannot be designated a market failure.

  5. Generated rent provides the means by which to finance collective goods by private enterprise.

  6. The ethic that tells us the meaning of the market is the same ethic that tells us the morally proper policies.

  7. Free markets never fail.

More Related