Market economic system means the Organization and allocation of production and consumption of goods and companies arising from the game between supply and demand in a scenario of imperfect competition, which requires a certain participation of the State to appropriate and/or improve the unfavorable effects of market failures and externalities and to ensure a minimum total access to certain goods and companies, and so on. He also criticized microeconomists who view competition as a state of affairs (that is, when the demand curve going through the firm is perfectly elastic”) somewhat than as a process In Ludwig von Mises and …
Tag: vitality
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