government intervention in markets
In the paper, one of reasons for government intervention in markets (asymmetric information, externalities, public goods, etc.) should be defined and discussed: in addition to insight from Krugman and Wells and Miller, Benjamin and North (be sure to identify and cite), the student should reference scholarly articles (be sure to select from leading academic journals) and provide an application of the concept to a specific issue of importance. Be sure to articulate the justification for intervention (equity, efficiency, etc.) and illustrate in your application how social welfare is increased.
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