ECONOMICS FOR REAL PEOPLE: The “Market Failure” Fallacy

Here’s what our friends at the UoA Economics Group will be discussing tomorrow evening.

You've all heard about so called "market failure"--indeed, if you've studied economics at all you've been lectured on it, examined on it, and told at length that the phenomenon is endemic to capitalism.

This week however, in our Economics for Real People presentation, we're going to suggest that it isn't.

That the doctrine of market failure itself fails: That markets don't fail in the manner described; that explanations have long existed for the alleged failures presented in economics classrooms; that there is a failure far more fundamental than market failure that the proponents of the doctrine overlook entirely; and that the primary reason for the ubiquity of the market failure doctrine is not economic, but something much more fundamental.

Date: Tuesday 24 May
Time: 6pm
Room: University of Auckland Business School, Owen G Glenn Building, Room 219 (Level 2)

Look forward to seeing you.