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Bogusław Fiedor (2013/2, Articles,
Market Failures and State Failures: Market Regulation vs. Public Regulation
The paper begins with the formulation of institutional dichotomy: imperfect market versus imperfect state and, subsequently, with the assumption of the common interdependence between market failures and state failures, as well as the related correlation between market and public regulation. In accordance with the fundamental neoclassical premise, the aim of the latter is not to replace the (...)
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