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« Sweatshop-Intensive Countries and International Labor Standards | Main | Off to London »


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What books would you recommend that most powerfully convey the
entrepreneurial response to market "failure"? Thanks.

Fred Foldvary and Dan Klein, THE HALF-LIFE OF POLICY RATIONALES provides excellent examples. Theoretically, Kirzner is perhaps the best source to understand how one man's waste can become another man's treasure.

The Amazon page for the Foldvary and Klein book is ... http://www.amazon.com/gp/product/0814747779/002-9143174-2549614?v=glance&n=283155

You make the point that if we could just clearly define property rights, the problem of externalities would go away.

BUT WHAT ABOUT TRANSACTION COSTS? You (and Rothbard) seem to be missing the second point of Coase's famous article on Social Costs.

Interesting post (and blog, first time I've been here)

I've tried to put some responses here :


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