Market failure
Concept in public goods economics
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We include updates on Tragedy of the commons, Externality, Principal–agent problem, Monopsony, Moral hazard, Free-rider problem, Information asymmetry, Adverse selection, Coase theorem, Pigouvian tax, Natural monopoly, Path dependence, 2000–2001 California electricity crisis, Government-granted monopoly, Socialism for the rich and capitalism for the poor, Information good ... and more.
| 2023 |
Socialism for the rich and capitalism for the poor
Robert F. Kennedy Jr. used the phrase on Tucker Carlson Tonight, describing the contemporary U.S. economic system as having 'a cushy socialism for the rich and brutal, merciless capitalism for the poor'.
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| 2022 |
Socialism for the rich and capitalism for the poor
Economist Yanis Varoufakis critiqued government and central bank responses to financial crises, describing them as 'lavish socialism for capital and harsh austerity for labor'.
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| 2019 | Gonzalez, Marciano, and Solal use cooperative game theory to demonstrate limitations of the Coase theorem in social cost problems involving more than three agents. |
| 2018 | Goldlücke and Schmitz publish research showing potential inefficiencies in pollution negotiations when parties learn private information after negotiations, particularly with bounded transfer payments. |
| 2012 | Harstad proposes a supply-side environmental policy concept allowing countries affected by climate change to 'buy coal' or fossil fuel reserves abroad with the intention of conserving them. |
| December 10 2010 |
Socialism for the rich and capitalism for the poor
Senator Bernie Sanders referenced the phrase during a Senate floor speech against the continuation of Bush-era tax cuts.
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This contents of the box above is based on material from the Wikipedia articles Socialism for the rich and capitalism for the poor & Environmental economics, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.