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Economics

Where Markets Break

The cases the machinery gets wrong, and what to do about them

Pigou · Ostrom · Akerlof · 3 chapters · 13 min read

Externalities, public goods and the problem of who knows what.

Free to read: every chapter below is open

Failure Modes

  1. 01The Costs Nobody Was Asked AboutOn the costs that fall on people who were never asked.
  2. 02Everyone Wants It, Nobody Will PayOn the things everyone wants, nobody will pay for, and communities build anyway.
  3. 03When One Side Knows MoreOn what happens when one side of a deal knows more than the other.