When economic "rents" or market failures provide economic benefits to weaker groups -- those with less stature or power in society -- efforts to eradicate such "inefficiencies" may further empower dominant elites in ways that are counterproductive for the larger society.
Although an issue like health care certainly reflects many of the broader ideological schisms in our political debate, amiss in ideological debates like these is the technical reality of the unique challenge posed by health care.
Like it or not, even a capitalist economy is a system in which your actions affect other people. Your freedom to swing your fist ends, famously, at the tip of my nose, and what you buy and don't buy affects other people.
Since the first time Jarrod scored thirty points as a high school freshman, he had been causing a stir. The points brought scouts, the scouts brought recruiters. But they all had the same interested in Jarrod.
In the United States, where bankers continue to rule the Obama administration's economic team, the idea of government teaming up with business to drive long-term innovation and growth is still struggling to gain attention.
I'm so convinced that the private market will make everything better that I think we should do it across the board. Let's start with firecare. Why should I pay for firecare services for people who are dumb enough to start fires?
We are witnessing one of humanity's most unbearable tragedies following the earthquake in Haiti. It allows us to ask: Is this as much a story about poverty and failed governance as it is of natural disasters?