David: > I think you have to try and distinguish a concept of "market failure," which > may have a technical meaning for certain types of transactions, from a dislike > of a market result.
Here is an interesting article about the history of market failure going back to Mill: www.utilitarian.net/sidgwick/about/2004070102.pdf You see, we are not the first ones who are debating this. Many of the things Sandwichman has been debating here are related to that very same concept. But, unlike most, Tom reads history, so he knows: Chapman, Pigou, Keynes, Coase and the like. I am tempted to repeat him: "Repeal the Coase Theorem". Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
