Question
Can you think of any examples when a market may not be the best option to ration scarce resources? Be specific and include instances when
Can you think of any examples when a market may not be the best option to ration scarce resources? Be specific and include instances when market forces should step aside to other forces whether it be social, cultural, ethical, political, etc...Or do you think that a market can promote both efficiency and fairness? You must provide commentary concerning TWO excerpts from the articles and/or video below in your post and responses to receive full credit.
Article on dogmatic acceptance of markets:http://econlog.econlib.org/archives/2016/02/a_simple_proof_1.html
The limits of markets: https://www.core-econ.org/the-economy/book/text/12.html#what-determines-the-balance-between-firms-and-markets
Article by David Colander: /content/enforced/73518-202251-CRN-20981/EJ673857.pdf, "Integrating Sex and Drugs into the Principles Course: Market-Failures Versus Failures-of-Market Outcomes.
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