Markets Don't Fail!

Brian P. Simpson

ISBN 10: 0739110349 / ISBN 13: 9780739110348

Published by Lexington Books, 2005

About this Item

In contemporary economics, "market failure" is a common topic, but Brian Simpson argues that this perspective is fundamentally flawed. His book challenges the premises behind claims of market failure, offering a robust defense of the free market. By dissecting the arguments typically found in economics textbooks, Simpson reveals that the assertions against free markets are unfounded. He illustrates how free markets not only succeed but also enhance the standard of living and enable human flourishing. Beyond economic analysis, the book delves into moral and epistemological justifications for the free market, addressing philosophical underpinnings that refute market failure claims. Through a blend of economics and philosophy, Simpson presents a thorough and logically sound defense of free markets. Key topics explored include monopoly, antitrust laws, predatory pricing, externalities, safety and quality regulation, environmentalism, economic inequality, public goods, and asymmetric information. This work serves as an essential resource for those seeking a comprehensive understanding of the free market's principles and benefits.

Seller Inventory # 050a7e66-71b3-4486-bec4-236a74df0416

Bibliographic Details

• Title: Markets Don't Fail!
• Publisher: Lexington Books
• Publication Date: 2005
• Language: English
• ISBN 10: 0739110349
• ISBN 13: 9780739110348
• Binding: Hardcover
• Condition: As New
• Seller catalogs:
  • Economics

About this title

Synopsis

In all of the contemporary economics textbooks that have been written there is typically at least one chapter that addresses "market failure." Markets Don't Fail! is a response to what author Brian Simpson sees as a fundamental error in the thinking of some economists. The chapter titles of this book are crafted against the premises of "market failure" arguments, and a significant portion of this book focuses on exposing the invalid premises upon which the claims of market failure are based and providing a proper basis upon which to judge the free market. The material in this book provides a strong antidote to the arguments typically presented in contemporary economics textbooks. Through example and argument, Brian Simpson shows that the claims against the free market are not true. In fact, he demonstrates how free markets succeed, how they raise the standard of living of all individuals who live within them, and how free markets allow human life to flourish. However, the book goes much deeper than economics by providing a moral and epistemological defense of the free market. Markets Don't Fail! gets to the fundamental, philosophical reasons why the claims of market failure are false and why markets actually succeed. Through an integration of economics and philosophy Simpson is able to provide a comprehensive, rigorous, and logically consistent defense of the free market. The specific topics covered in the book include monopoly, antitrust laws and predatory pricing, "externalities," the regulation of safety and quality, environmentalism, economic inequality, "public goods," and asymmetric information. This book is an invaluable tool for anyone who wants to gain a sound understanding of the free market.

About the Author

Brian P. Simpson is Assistant Professor in the School of Business and Management at National University.