"The debate about government’s successes and failures demonstrates that drawing the boundary between market and government is an enduring problem. The tools of economics are indispensable to help societies find the golden mean between an efficient market mechanism and publicly decided regulation and redistribution. The good mixed economy is, perforce, the limited mixed economy. But those who would reduce government to the constable plus a few lighthouses are living in a dream world. An efficient and humane society requires both halves of the mixed system—market and government. Operating a modern economy without both is like trying to clap with one hand."
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Economics (textbook)
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