Kalachakra reflecting on market failures, and how the government isn’t quite well placed to correct them.
…but the presumption that market failure can only be fixed by government intervention is grossly misguided. Market failure is often solved by markets. And far more efficiently might I add….
How would the government deal with this problem? They would regulate the number of tourists each guide can have in a group. Furthermore they would regulate the distance each group must maintain and each individual must maintain from the groups. Then they would issue licenses to guides and have Tourist Inspectors for enforcing the regulations and ensuring the correct distance is maintained. So much more efficient isn’t it? Or so they said in school.
Comments
Comments are closed on this post.