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No one disagrees that health care reforms in the United States aren't needed to bring costs under control, while still providing maximum coverage for people. For decades legislators and presidents have spoken of providing such lasting health care...
Prices, and the personal freedom to set prices, make an ordered market economy possible.
Prices coordinate economic activity in three major ways:
For many, market failure is taken for granted as an accepted economic principle, when in fact it can be quite controversial. "Market Failure" is most commonly defined as a failure of the market to achieve economic efficiency, that is, a failure...