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9min chapter
Dam Shame: It's not easy being government
The Answer Is Transaction Costs
Understanding Transaction Costs and Government Failure
This chapter explores transaction costs and Pareto optimality, shedding light on the failures that can occur within both market and government systems. Through illustrative examples, it highlights the significance of information and incentives in assessing government effectiveness in mitigating market failures.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode