Every time I read or hear people say words to the effect that government mitigates market failure I cringe and want to send them the following paper.

Here's a quote from "Is Market Failure a Sufficient Condition for Government Intervention?" by Art Carden & Steve Horwitz

"Market imperfections are not magic wands that make market solutions and government imperfections disappear. Real understanding of comparative political economy begins rather than ends with the recognition that markets are not always perfect."

Read it all here…