Identify an alternative to the theory that markets fail to calculate the welfare of future people. Multiple choice question. Markets have to be incomplete in their approach to the overall social good by ignoring ethical questions. Learning about market failures can only be done by sacrificing the first generation as a means for gaining this information. What is good and rational for a collection of individuals is also what is good and rational for a society. Some goods are so important that they should be exempt from the preference-optimizing trade-offs that occur within markets