Thursday, July 31, 2008

Unit 1: River pollution: The inadequacy of government action to overcome market failure

This BBC article shows the legislation by itself may not eliminate market failure

http://news.bbc.co.uk/1/hi/northern_ireland/7532163.stm

a) What is the market failure in the free market?
b) Why do the pollution incidents still occur even though there is legislation which means they should not?

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