Questions tagged [economic-failure]

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Is market failure the same allocative inefficiency?

From an IB Economics book (in the microeconomics section): The part in blue suggests market failure is the same as allocative inefficiency, but the part in red seems to suggest that market failure is ...
4
votes
2answers
10k views

How can the abuses of monopoly power lead to market failure?

So I know that the abuses of monopoly power can cause market failure, but I don't know why that is. I am guessing that because monopoly's face a lack of competition, they have no incentive to improve ...
8
votes
5answers
1k views

Are there real world examples of a shoe event horizon?

This is a famous quote from Douglas Adam's The Restaurant at the End of the Universe: Many years ago this was a thriving, happy planet – people, cities, shops, a normal world. Except that on the ...
-4
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1answer
118 views

Help a writer worldbuild a failing economy [closed]

I'm writing fanfiction for the superhero serial novel Worm. The main setting in Worm is Brockton Bay, a failing city of about 300,000 people. The economy has been in decline since the decline of ...