Efficiency and Externalities in an Open-Ended Universe
by Roy Cordato
Publisher: Ludwig von Mises Institute 2007
Number of pages: 160
The problem of externalities and efficiency is cited relentlessly in mainstream literature as the great rationale for government intervention. The Austrian tradition, however, takes another approach, viewing these supposed problems as having market solutions that depend on a view of economics rooted in an understanding of the competitive process.
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