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If We Applied Market Failure Theory To The State

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Evilsceptic Posted: Tue, Mar 13 2012 1:27 PM

So we just finished market failiure in my AS (highschool) economics class, now we are doing government failiure. But skipping ahead in my textbook I noticed that, shockingly, we weren't applying the same logic to the state as we do to the market! I have rectified this mistake.

Talk about negative externalities! Of course, the problem can be solved with property rights. Or we could tax drone strikes.

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Merlin replied on Tue, Mar 13 2012 5:20 PM

you may find it of some interest

The Regression theorem is a memetic equivalent of the Theory of Evolution. To say that the former precludes the free emergence of fiat currencies makes no more sense that to hold that the latter precludes the natural emergence of multicellular organisms.
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