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Market Failure

Anything Peaceful

Israel Puts Price Controls on Books, Sales Plummet
To "protect" authors, the government has driven off readers

A combination of price controls and minimum wages has devastated the Israeli book market.

Freeman Article

Klinging to Reality

Market failure, thought a slippery concept, does not necessarily call for government intervention. On the contrary, markets are better than political institutions at minimizing the frequency and severity of poor decision-making.

Freeman Article

Robust Political Economy: Classical Liberalism and the Future of Public Policy

Freeman Article

Just Wait Until It's Free

Freeman Article

An Open Letter to Statists Everywhere

Freeman Article

Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being

In order to makes economics a more useful tool for improving institutions and society, 2001 Nobel laureate George Akerlof and Rachel Kranton study people's notion of who they are and how they behave.

Freeman Article

Some Sins of Textbook Economics

Freeman Article

The Failure of Market Failure
How about government failure?

Which process has better built-in mechanisms to provide the knowledge and incentives necessary to notice imperfections and improve on them?

Freeman Article

Dangerous Political Naifs

Freeman Article

Economic Analysis and the Great Society
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