Political Memes

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Unfathomably based (lemmy.world)

submitted 3 days ago by CorruptCheesecake@lemmy.world to c/politicalmemes@lemmy.world

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[–] explodicle@sh.itjust.works 0 points 1 day ago (1 children)

Here's the definition

[–] TheEighthDoctor@lemmy.zip 0 points 1 day ago* (last edited 1 day ago)

From the link you posted

In practice, governments usually intervene to reduce externalities such as greenhouse gas emissions;

An absence of any of the conditions of perfect competition is considered a market failure. Regulatory intervention may provide a substitute force to counter a market failure, which leads some economists to believe that some forms of market regulation may be better than an unregulated market at providing a free market.