THE FUTURE OF MARKETS
In the 2009 Wincott Lecture, the author argues that in their approach to markets, economic researchers and policy-makers have focused too much on the role of prices as signals to guide resource allocation, at the expense of two possibly more important elements - markets as a process of discovery and markets as a mechanism for the diffusion of political and economic power. Government policies should support the market rather than particular industries, promote competition not concentration, and facilitate entry, not confer advantages on existing firms. Copyright (c) 2010 The Author. Journal compilation (c) Institute of Economic Affairs 2010. Published by Blackwell Publishing, Oxford.
Year of publication: |
2010
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Authors: | Kay, John |
Published in: |
Economic Affairs. - Wiley Blackwell. - Vol. 30.2010, 1, p. 38-42
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Publisher: |
Wiley Blackwell |
Saved in:
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