5 ms·
Whether or not the government should pick winners and losers is separate and unrelated to the question of market efficiency. Why can't I simultaneously acknowle
by grantismo 14y ago
Whether or not the government should pick winners and losers is separate and unrelated to the question of market efficiency. Why can't I simultaneously acknowledge that externalities produce less than efficient markets and that government subsidies produce deadweight loss?
- rayiner 14y agoThe terminology is reflective of the flawed proposition that the market will pick efficient winners. The government "picking winners and losers" is implicitly juxtaposed against a hypothetical "fair game."