Hi Ashley, do you have a video or can you provide any references that explains why inequality is a market failure? I don't get it. How is inequality defined and what is the inefficiency or externality due to inequality? Right now, according to Statista, 70% of Americans own a laptop. It costs a 1,000 bucks and not everyone can afford one. Is that a market failure? No matter what the good is and what the price is, there will always be someone who can't afford it. Short of everyone having identical endowments, there will always be inequality and always be someone to whom the market isnt catering. Thank you.
Hi, the market is saturated & the consumer is exhausted. Look at supermarkets my local has about 30 different shampoos conditioners. The market needs to be streamlined no more than half a dozen of each.standardise quality and price, environmental awareness etc. ethical standards for the global village
Your lectures are great and I follow them when I can.. But allow me to say that this particular lecture is hurried. I am also not sure that including the Mathew Principle and Inequality as market failures is the standard way of presenting them. I think of market failure as inefficiency problem separate from inequality problem. That is a system can be efficient in the Pareto sense but inequitable. I am not as sure about the Mathew problem. If it is about the negative impact of bad politics on the economy I will say it is rent seeking problem and yes it will then be an efficiency problem.
Oh foxtrot foxtrot sierra: consider how the polity restricts access to public goods, in at least one of your examples. Inmates in jails and prisons can't see fireworks. That's part of the reason the polity spends money to create a "bad," in the form of carceral sentences, to offset and deter people from obtaining goods via shoplifting or wire fraud. Socrates could have chosen exile over suicide after his sentence, thereby losing almost all the public goods available to citizens of Athens, including military protection.
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Thank you Ashley, you're econ ASMR in the most grounded and fortifying way . Just lovely.
Amazing video! I know of all of these topics and concepts, but this help to put things into context in a really good way. Keep up the good work!
Hi Ashley, do you have a video or can you provide any references that explains why inequality is a market failure? I don't get it. How is inequality defined and what is the inefficiency or externality due to inequality? Right now, according to Statista, 70% of Americans own a laptop. It costs a 1,000 bucks and not everyone can afford one. Is that a market failure? No matter what the good is and what the price is, there will always be someone who can't afford it. Short of everyone having identical endowments, there will always be inequality and always be someone to whom the market isnt catering. Thank you.
What game tax players and tax collectors are playing or might play ?
Can you make a video about GIBBARD-SATTERTHWAITE THEOREM plz?
Hi, the market is saturated & the consumer is exhausted. Look at supermarkets my local has about 30 different shampoos conditioners. The market needs to be streamlined no more than half a dozen of each.standardise quality and price, environmental awareness etc. ethical standards for the global village
Your lectures are great and I follow them when I can.. But allow me to say that this particular lecture is hurried. I am also not sure that including the Mathew Principle and Inequality as market failures is the standard way of presenting them. I think of market failure as inefficiency problem separate from inequality problem. That is a system can be efficient in the Pareto sense but inequitable. I am not as sure about the Mathew problem. If it is about the negative impact of bad politics on the economy I will say it is rent seeking problem and yes it will then be an efficiency problem.
Imperfect competition resets market rules.
Moral Hazard-privatize profits socialize loss…welcome to the American Economy
Oh foxtrot foxtrot sierra: consider how the polity restricts access to public goods, in at least one of your examples. Inmates in jails and prisons can't see fireworks. That's part of the reason the polity spends money to create a "bad," in the form of carceral sentences, to offset and deter people from obtaining goods via shoplifting or wire fraud. Socrates could have chosen exile over suicide after his sentence, thereby losing almost all the public goods available to citizens of Athens, including military protection.
Lame honestly
Jk