The Great Fiction of the “Failures” of the Market

Authors

  • Ubiratan Jorge Iorio

DOI:

https://doi.org/10.30800/mises.2013.v1.493

Keywords:

Market, Market Process, Market Failures, Public Goods, Externalities, Monopolies

Abstract

The article examines the issue of the “market failures” in the light of the Austrian School. The cases that neoclassical literature often point to as market imperfections and need to be “corrected” by the State are contested one by one to support this theory. The conclusion is that the state is responsible for situations that are commonly attributed to the market process.

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Published

2013-12-01

How to Cite

1.
Iorio UJ. The Great Fiction of the “Failures” of the Market. MisesJournal [Internet]. 2013 Dec. 1 [cited 2024 Oct. 13];1(2):401-24. Available from: https://revistamises.org.br/misesjournal/article/view/493

Issue

Section

Economics, Methodology and Praxiology