Nicholas Barr - Markets Quotes

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Markets can be efficient or inefficient; so can governments. thus market failure is a counterpoint to government failure.

Nicholas Barr

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.

Nicholas Barr

So far as school education is concerned, many of the assumptions necessary for market efficiency fail, the main problems being imperfect information, imperfect capital markets, and external effects.

Nicholas Barr