Market failure quotes:

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The reality is gas prices should be much more expensive then they are because we're not incorporating the true damage to the environment and the hidden costs of mining oil and transporting it to the U.S. Whenever you have an unpriced externality, you have a bit of a market failure, to the degree that eternality remains unpriced. -- Elon Musk
Antitrust is the way that the government promotes markets when there are market failures. It has nothing to do with the idea of free information. -- Bill Gates
It was an interesting question as to whether the BBC had a future in the digital world, and what form of market failure could justify the licence fee system. -- Gavyn Davies
But our energy woes are in many ways the result of classic market failures that can only be addressed through collective action, and government is the vehicle for collective action in a democracy. -- Sherwood Boehlert
What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics. -- Nouriel Roubini
Climate change represents the greatest and widest-ranging market failure ever seen -- Nicholas Stern
Nothing rectifies out-of-control market failures like a healthy dose of government intervention and mountains of bureaucracy. -- George Carlin
I do tend to think that things that have incredibly long time horizons often do involve market failures. -- Peter Thiel
Piracy often reflects market failures on the part of producers rather than moral failures on the part of consumers. -- Henry Jenkins
Deployment of broadband may be hampered by market failures in rural and remote areas. In such cases, well targeted state aid may therefore be appropriate. -- Neelie Kroes
Business schools are failing to teach the students about the risks of market failures. We need to include some material on market failures in the core of curriculum. -- Pankaj Ghemawat
Climate change is a result of the greatest market failure the world has seen...We risk damages on a scale larger than the two world wars of the last century. -- Nicholas Stern
We can't leave everything to the free market. In fact, climate change is, I would argue, the greatest single free-market failure. This is what happens when you don't regulate corporations and you allow them to treat the atmosphere as an open sewer. -- Naomi Klein
Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand. -- Paul Ormerod
Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy. -- Walter E. Williams
Some economists became obsessed with market efficiency and others with market failure. Generally held to be members of opposite schools-freshwater and saltwater, Chicago and Cambridge, liberal and conservative, Austrian and Keynesian-both sides share an essential economic vision. They see their discipline as successful insofar as it eliminates surprise-insofar, that is, as the inexorable workings of the machine override the initiatives of the human actors. -- George Gilder
The failure of credit markets is one of the major reasons for underdevelopment. -- George Akerlof
I believe that, in an ideal world, writers would feel free to write what matters to them without having to consider success, failure, the market, etc. -- Claire Messud
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system. -- Henry Paulson
Obama's failure to close Guantanamo is yet another instance where the rhetoric of democratic and constitutional rights proved not useful for his international relations, relations which are always pursued in ways that continue to link and fortify securitarian power with the opening of new markets. -- Judith Butler
Most employees want to be involved in a successful business and most employees are happy for people running successful businesses to be paid a reasonable wage and a market rate for it, provided they understand the reason. What they hate most of all is pay for failure. -- Stuart Rose
It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure. -- Barry Ritholtz
I've criticized President Bush for his failure to use his veto pen. There's plenty of blame to go around. The question is how to solve problems. It's not bailouts. What made America great? Free markets, free enterprise, manufacturing, job creation. That's how we're gonna do it, not by enlarging government. -- Scott Brown
Forget being 'discovered.' All you can do is write. If you write well enough, and are stubborn enough to embrace failure, and if you happen to fall into the narrow categories that the book market recognizes, then you might make a little money. Otherwise, it's a struggle. A gorgeous struggle. -- Jess Walter
No one suggested Lehman deserved to be saved. But the argument has been made that the crisis might have been less severe if it had been saved, because Lehman's failure created remarkable uncertainty in the market as investors became confused about the role of the government and whether it was picking winners and losers. -- Andrew Ross Sorkin
The worst of failure of this kind is that it spoils the market for more competent performers. -- James Agate
All financial success comes from acting on a plan. A lot of financial failure comes from reacting to the market -- Nick Murray
I don't put my ideas in a meeting for acceptance or rejection, I put them in the market for success or failure. -- Amit Kalantri
All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market. -- Ludwig von Mises
What vitiates entirely the socialists economic critique of capitalism is their failure to grasp the sovereignty of the consumers in the market economy. -- Ludwig von Mises

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