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<!-- you can have any number of categories here --> [[Category:Economics]] [[Category:Economics 101]] [[Category:Markets]] [[Category:Real Markets|300]] Libertarians, because they insist on "[[Freedom (propaganda)|freedom]]", do not want to do anything about market failure. Their three major responses then are (1) [[denialism]] (a public relations style of lying) (2) insisting that market failure is optimal because all other possibilities are always worse or (3) the argument that government has failures too. (1) is [[wikipedia:Bullshit#In_philosophy|philosophical bullshit]]. That is a technical philosophical term, believe it or not. In short, the bullshitter does not care about the truth of what he is saying: he is concerned with other effects. In the case of denialism, the goal is FUD: fear, uncertainty and doubt. (2) Long experience has shown that government intervention in market failures can greatly improve markets, both in micro and macro economic senses. Most obviously, the creation of stable law of property, defense and infrastructure such as roads which markets have never been able to do themselves. (3) Yes, government does have failures too. But they are not the same failures as markets have, and so we should expect to find some cases where markets do better and some where governments do better. <br> {{DES | des = Real world economies are rife with market failure. This means choosing between [[second-best]] options such as imperfect markets, NGO's and government solutions. Ideology and economic theory cannot say which is best: you must resort to experimentation and history. | show=}} <!-- DPL has problems with categories that have a single quote in them. Use these explicit workarounds. --> <!-- normally, we would use {{Links}} and {{Quotes}} --> {{List|Market Failure|links=true}} {{Quotations|Market Failure|quotes=true}}
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