What is the connection between Market Failures and Workers' Compensation?
Everyone has some idea of what an economic “market” is and how it works. Terms like “supply and demand” are well known. For most goods and services competitive private markets work well; outcomes for all parties concerned are optimized. When private markets fail to provide expected or intended outcomes, the consequences can be severe for the parties involved and others (including you and me as citizens and taxpayers).
The limitations and ...
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