Failures in Governance: Restrictions on the Dominion of Markets
Market augmentation is Olson's description for correcting market failure. Public good benefit is shared by all, private free-rider riven efforts to supply it will always be insufficient and sub-optimal. In sum, "market augmentation" is essentially and necessarily a collective, government function. It is the public benefit which is the focus of this paper.
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|Date of creation:||2000|
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