In his paperCreating the Institutional Foundations for a Market Economy, [Ch. 2 in Kennedy and Stiglitz, Law
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Question:
In his paper"Creating the Institutional Foundations for a Market Economy," [Ch. 2 in Kennedy and Stiglitz, Law and Economics with Chinese CharacteristicsOxford: Oxford University Press 2013 which is on the reading list] Joseph Stigler states: "Every successful market economy has been based on achieving an appropriate balance between the market and government," list and explain four ways where markets are appropriately balanced by government intervention in an otherwise market economy.
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