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London School of Economics @LondonSchoolofEconomics
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Jun 1, 2016
- Subcollection in EU455 Concepts in Political Economy Michaelmas Term 2015
- From docs.google.com
2. Markets and norms
Q1. Thanks to authors like Stiglitz and Barr, we know that market failures are the rule rather than the exception. But do you agree with the underlying norm that government intervention should make markets Pareto-efficient?
Q2. Even if one finds that a market fails, does it necessarily follow that governments should intervene? What would be your criteria to engage in or refrain from intervention?
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