John Komlos — 15 Curses of Unregulated Markets

Markets don’t work the way economics textbooks say they do. While I do believe in the power of markets to cultivate social good, they have many natural limitations that any credible scientific approach must recognize for public policies to be effective. Listed here are fifteen curses—yes, I call them curses—that markets must deal with to work as the textbooks say they do.

Evonomics
15 Curses of Unregulated Markets
John Komlos | Professor Emeritus of Economics and of Economic History at the University of Munich