[Borodog]

[ QUOTE ]
I've told you once and I've told you a million times. "Market Failure" is a term used to describe specific things that are as easy to identify as the thing called "sink" or "chair". Each market failure is called a market failure because that thing is part of some sort of inefficency in the market; something that is generally thought of as a failure.

If you want to believe it is not a failure, be my guest. But that is what they are called.

[/ QUOTE ]

Lol. So, a market failure is a market failure because it's a market failure?

How do you objectively identify a market failure?