Under perfect green markets if there is a market failure, should governments be expected to act as market failure correctors and enforcers in the face of social pressure?
I think yes, what do you think?
Definitely yes. Government has the responsibility to correct the every type of market failures, because there are no other actor in the market or society who/which have willingness, obligation, human resource and sufficient financial resources to protect n safeguard the interests of the people caused by market failure.
Umesh, thank you for commenting. We agree then, under perfect marketing thinking, including perfect green market thinking, the only way government intervention is appropriate is when addressing market failures.
Let's flip the coint, What do you think the government would do if DWARF GREEN MARKETS, which make the environmental market failure permanent while externality management is going on, tend towards clear collapse,,,,should we expect governments to act as market failure correctors and enforcers?
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