Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 07/28/2015 erstellt
Description:
Rationales for government interventions in the market are typically based on theories of market failure set within a framework of fixed private-sector practices and technologies. However, continuous technological progress and entrepreneurial innovation are eroding the theoretical foundations of these policies, making them increasingly obsolete. This paper describes the four pillars of market failure doctrine and provides examples of how the market is using technology to solve problems previously considered to necessitate government intervention