Global Feed Post Login
Replying to Avatar Séimí Mac Síomón

Does anyone know what is meant here by this wiki entry on 'economic liberalism' when they say 'resolves market failures'? Does that mean bailouts and shit?

Economic liberalism is associated with markets and

private ownership of capital assets. Economic

liberals tend to oppose government intervention and

protectionism in the market economy when it

inhibits free trade and competition, but tend to

support government intervention where it protects

property rights, opens new markets or funds market

growth, and resolves market failures.

#AskNostr

Avatar
praxeologist 1y ago

With you on bailouts and shit. Though, isn't the emergence of governments and their monopoly on violence over territories a clear example of market failure in providing private defense?

Reply to this note

Please Login to reply.

Discussion

Avatar
Séimí Mac Síomón 1y ago

You've stymied me, I haven't a clue.

Thread collapsed