Market Failure Quotes

Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure ... The credit crunch and foreclosure problems are failures of government policy. ~ Walter E. Williams

Climate change is a result of the greatest market failure the world has seen ... We risk damages on a scale larger than the two world wars of the last century. ~ Nicholas Stern

Many or most of our problems lie in combinations of market failure and irresponsible and short-term behaviour. ~ Pavan Sukhdev

But our energy woes are in many ways the result of classic market failures that can only be addressed through collective action, and government is the vehicle for collective action in a democracy. ~ Sherwood Boehlert

Piracy often reflects market failures on the part of producers rather than moral failures on the part of consumers. ~ Henry Jenkins

As the great naturalist Charles Darwin saw clearly, individual and collective interests often coincide, as in the invisible hand narrative. But he also saw that in many other cases, interests at the two levels are squarely in conflict, and that in those cases, individual interests generally trump. That simple observation suggests that market failure is often the result not of insufficient competition (the traditional charge from social critics on the Left), but of the very logic of competition itself. ~ Bob Frank

In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable security the gain or loss associated with the various outcomes is not totally inherent in the underlying business; it also depends on the price paid, which is established by the marketplace. The view that risk is dependent on both the nature of investments and on their market price is very different from that described by beta. ~ Seth Klarman

Failure is not meant to be final and fatal ... It is meant to refine you to be all that you are meant to be. ~ Jon Gordon

The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the 'capabilities' of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain. That is the basis of progressive policy - not maximising economic growth and personal incomes. Nowhere will this be more important than in tackling the greatest problem facing us this century, the environmental crisis. Whatever ideological logo we choose for it, it will mean a major shift away from the free market and towards public action, a bigger shift than the British government has yet envisaged. And, given the acuteness of the economic crisis, probably a fairly rapid shift. Time is not on our side. ~ Eric Hobsbawm

Unfortunately there is a standard set for it that precedes hip-hop. It would be great if corporate America didn't do this, but there is a huge market for sex and violence and anti-Black representations in America and the world that doesn't begin or end with hip-hop. ~ Bakari Kitwana

America today is in danger of drifting from its best traditions. We have allowed false prophets of selfishness to obscure our vision. We have grown numb to a creeping cynicism about progress and public life. We crave human connection yet hide behind walls. We worship the money chase yet decry the toll it exacts on us. We allow the market to dominate our lives, relationships, yearnings and aspirations. We indulge in nostalgia and irony and addictive entertainment, then purge from our hearts any true idealism or passion, any notion that being American should mean something more than "everyday low prices" or "every man for himself." In the midst of this dislocation and disorientation, so many Americans today yearn for higher purpose, for calling
for some assurance that life matters. We wish to believe there is more to our days than is revealed on our screens. Make no mistake: this is a spiritual crisis. ~ Eric Liu

Failure is only a step towards success. ~ Sunday Adelaja

You will wait until Ernest returns, and he will accompany you to market."
"That won't be until midmorning," she said indignantly. "I can't wait that long- all the best goods will be gone by then. In fact, the stalls are being picked over right now."
"That is a pity," Ross said without a shred of remorse. "Because you're not going alone. That is my final word on the subject."
Sophia leaned over his desk. For the first time in two days, she met his gaze directly. Ross was conscious of a deep delight curling through him as he saw the sparks of challenge in her blue eyes. "Sir Ross, when we first met, I wondered if you had any flaws. Now I have discovered that you do."
"Oh?" He arched one brow. "What are my flaws?"
"You are overbearing, and you are unreasonably stubborn."
Morgan interrupted with a snicker. "It has taken you a full month of working here to reach that conclusion, Miss Sydney? ~ Lisa Kleypas

Online theft has changed the business model of filmmaking because the DVD market is very soft. So, more ambitious, compelling, character-driven narrative of a certain budget level isn't really a viable business model in the eyes of the studios right now. ~ Jon Favreau

Mainstream economists habitually treat asset depletion as income, while ignoring the value of the assets themselves. If the owner of an old-growth forest cuts it and sells the timber, the market may record a drop in the land's monetary value, but otherwise the ecological damage done is regarded as an externality. Irreplaceable biological assets, in this case, have been liquidated; thus the benefit of these assets to future generations is denied. From an ecosystem point of view, an economy that does not heavily tax the extraction of non-renewable resources is like a jobless person rapidly spending an inheritance. ~ Anonymous

The truth is, anyone who puts so much of herself and her life into art as you do must naturally fear any failure in that art as a potential threat to your life. And so you protect your art more than you protect your health or the common forms of happiness the rest of us have. And you probably have this in common with every artist you admire. ~ Arthur Phillips

Fat people already are ashamed. It's taken care of. No further manpower needed on the shame front, thx. I am not concerned with whether or not fat people can change their bodies through self-discipline and "choices." Pretty much all of them have tried already. A couple of them have succeeded. Whatever. My question is, what if they try and try and try and still fail? What if they are still fat? What if they are fat forever? What do you do with them then? Do you really want millions of teenage girls to feel like they're trapped in unsightly lard prisons that are ruining their lives, and on top of that it's because of their own moral failure, and on top of that they are ruining America with the terribly expensive diabetes that they don't even have yet? You know what's shameful? A complete lack of empathy. ~ Lindy West

I'm not scared of anything in particular, but I am motivated by a fear of failure as opposed to a need to succeed. ~ Heston Blumenthal

If you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have! ~ Nassim Nicholas Taleb

Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises. ~ David F. Swensen

The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues. ~ Arthur Levitt

First, his job approval ratings have been trending down for many months, a trend that has accelerated in recent weeks as the war on terrorism has been supplanted in the public's mind by corporate scandals, stock market declines, and a growing sense of economic insecurity. ~ Thomas E. Mann

I'm a conservative but not because I care very much about the marginal tax rates of the richest Americans, rather I'm a market-oriented localist because I believe in cultural pluralism and I believe in the First Amendment, in voluntarism over compulsion whenever possible, and in as much de-centralized decision-making as is conceivably feasible. ~ Ben Sasse

She believed that displays of emotion signaled a certain failure between people. The only person who could upset her, make her cry or laugh in the open, was my father. He could always unsettle her face with a stern admonition or an old joke or pun in Korean. Otherwise, I thought she possessed the most exquisite control over the muscles of her face. She seemed to have the subtle power of inflection over them, the way a tongue can move air. ~ Chang-rae Lee

Creating change requires innovation: developing new products, creating new sales channels, reducing product development time, customizing products for increasingly smaller market segments. In addition, your company must be able to respond quickly to both anticipated and unanticipated changes created by your competitors and customers. ~ Jim Highsmith

I have seen love that, through its willingness to sacrifice everything, brought hope to the world. I have seen love that tried to overcome pride and a lust for power, but failed. The world is darker for its failure, but it is only as a cloud dims the sun. The sun - the love, still remains. Finally I have seen love lost in darkness. Love misplaced, misunderstood, because the lover did not know his - or her - own heart. ~ Margaret Weis

Every entrepreneur deals with fears of failure. However, the truly successful know how to face these fears and keep on working. ~ Yogi Berra

And in those changes to the Scriptures of your faith you only prove that you didn't know what you were doing in the first place. Picking and choosing your faith promises the ultimate freedom to be who you want and do what you want, but eventually it will only prove to you that to live for yourself and to make your law based on your own happiness is to become the slave of your imperfect self and to be tortured and tormented by your own pride and failure. ~ Hayley DiMarco

It's the failure to see this planet as a single entity that causes so much pain so many times. You cannot attack one part of the world without it affecting the whole earth, the whole body. Attacking other cultures, other nations, is a self-destructive act. It always comes back on you in some way. ~ Gorillaz

The democracy of the market consists in the fact that people themselves make their choices and that no dictator has the power to force them to submit to his value judgments. ~ Ludwig Von Mises

To allow the market mechanism to be the sole director of the fate of human beings and their natural environment ... would result in the demolition of society. ~ Karl Polanyi

Failure and its accompanying misery is for the artist his most vital source of creative energy. ~ Montgomery Clift

You market when you hire and when you fire. You market when you call tech support, and you market every time you send a memo. ~ Seth Godin

People should buy a house to live in, not as an investment. Property has become such a national obsession - it was the primary subject at dinner parties and how many television shows were dedicated to the market. It's not good for the economy. ~ Peter Hargreaves

By March '87 we're down to seven thousand, by the end of the year we're down to twelve hundred. The whole bottom just fell out of the market. It was bad for me because I was in Australia at the time. ~ Eddie Campbell

Recovering from failure is often easier than building from success. ~ Michael Eisner

to follow one's instincts with due regard to the policeman round the corner, had not acted very well there: it was because Cronshaw had done this that he had made such a lamentable failure of existence. It seemed that the instincts could not be trusted. Philip was puzzled, and he asked himself what rule of life was there, if that one was useless, and why people acted in one way rather than in another. They acted according to their emotions, but their emotions might be good or bad; it seemed just a chance whether they led to triumph or disaster. Life seemed an inextricable confusion. Men hurried hither and thither, urged by forces they knew not; and the purpose of it all escaped them; they seemed to hurry just for hurrying's sake. ~ William Somerset Maugham

The fear of getting knocked down is less about the pain of the fall and more about the embarrassment in having fallen. And so, to rid myself of the latter is to reduce my concern about the former, which means I just unleashed my life. ~ Craig D. Lounsbrough

I'm a secular priest ordained by training, experience, and, most important, the willingness to accept the mantle of command. That willingness encompasses the realization that failure is easy, and such failure could kill me or, worse, kill someone else. ~ Laurence Gonzales

I was pretty bad. When I first was diagnosed with kidney failure, my function - the function of my kidney was less than 8 percent. ~ Natalie Cole

The multiverse model offers an elegantly postmodern solution to character stasis in a market-driven serial publishing system which privileges constancy over major change. ~ Jose Alaniz

What was unfolding in Mumbai was unfolding elsewhere, too. In the age of global market capitalism, hopes and grievances were narrowly conceived, which blunted a sense of common predicament. Poor people didn't unite; they competed ferociously amongst themselves for gains as slender as they were provisional. And this undercity strife created only the faintest ripple in the fabric of the society at large. The gates of the rich, occasionally rattled, remained unbreached. The politicians held forth on the middle class. The poor took down one another, and the world's great, unequal cities soldiered on in relative peace. ~ Katherine Boo

Conan O'Brien has talked about how comedians try to emulate their heroes, fall short, and end up doing their own thing. Johnny Carson tried to be Jack Benny but ended up Johnny Carson. David Letterman tried to copy Johnny Carson but ended up David Letterman. And Conan O'Brien tried to be David Letterman but ended up Conan O'Brien. In O'Brien's words, "It is our failure to become our perceived ideal that ultimately defines us and makes us unique." Thank goodness. ~ Austin Kleon

Perhaps down in his heart Okonkwo was not a cruel man. But his whole life was dominated by fear, the fear of failure and of weakness.
It was deeper and more intimate that the fear of evil and capricious gods and of magic, the fear of the forest, and of the forces of nature, malevolent, red in tooth and claw.
Okonkwo's fear was greater than these. It was not external but lay deep within himself. ~ Chinua Achebe

At one point, so many people had assembled on the bridge that linked the ship to the shore that the timbers began to creak and groan. Suddenly, there was a tremendous crack and a hundred or more people were plunged into the muddy river. Wiser heads might have seen this as a warning that Elizabethan technology did not always match its enthusiasm. ~ Giles Milton