Market Failure | ˈmɑːkɪt ˈfeɪljə | alleged noun |
1. When free people un-coerced by government produce an outcome that Philosopher Kings don't like
2. (Related) When perverse incentives imposed by government cause perverse behaviours leading to perverse outcomes, which Court-Economists mislabel
See also: Government Failure. Orig: Keith Weiner
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