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Exactly! They all lack some of the properties that make markets efficient, or form a market at all. - Healthcare cannot be an efficient free market, where those who can pay most receive the best, and those who cannot pay get nothing. The reasons are pretty obvious. It sort-of-works as an insurance scheme, but currently in the US it's more like a payment scheme (and prices blow up), and in most of the EU is like a redistribution scheme (and amount of care is highly minimized until your condition is really serious). - Housing in desired areas is heavily influenced administratively by zoning and other stifling norms (hello, SF), and also lack of land in desirable areas (hello, Manhattan). If you agree to live far from bustling megacities or posh suburbs, houses are relatively affordable. (But how are you going to earn the money then?) - Privacy is not something you want to sell on the market; the whole point is to prevent it. So market forces can't solve it directly. You can buy e.g. an iPhone that gives you more privacy, or use a paid search engine and, a paid email provider, a VPN, etc if you agree to pay more for preserving your privacy; here the markets work well. - Climate change is again not about trading and competition, because its downsides were not priced into any goods, and mostly are not yet still. Make carbon emission expensive, and the market forces will do their job. E.g. a lot of datacenters are carbon-neutral and powered by solar / wind / hydro just because otherwise the electricity ends up being pretty expensive. |
What's your market solution for that one? Making lobbying even more expensive? I guess that's the fixed point of this function