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Remark of [this past] Week

Posted by erweinstein on January 7, 2008

Let’s say that the government subsidized the price of bananas, you bought so many bananas, put them on your roof, and then the roof collapsed. Is that government failure or market failure?

Tyler Cowen, George Mason Economics professor, discussing the “housing bubble” and “subprime mortgage crisis” on his blockbuster blog Marginal Revolution.

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