To Regulate or Not To Regulate, That is the Question
The last post on Government regulation introduced gluts and shortages, both undesirable, inefficient and unsustainable–theoretically– in a free market. “Theoretically” because the free market of classical economics is modeled on a world of “complete information, interchangeable goods and services, and lack of market power” — a world that exists only in theory. Laissez-faire{{1}}[[1]]tr: Leave [us] alone.[[1]] gets…
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