whether markets are rational or irrational

timer Asked: Jul 11th, 2014

Question description

 is whether markets are “rational.”  Put differently, we might ask whether it makes sense for people to have the market as a central and determining factor in our lives.  But the overwhelming majority of the world’s population is dependent on the market for their survival; as such, we need to consider what to do about it.

Your assignment is to assess whether markets are a rational way to organize human societies, and whether people are better or worse off as a result of market-dependence.  In the final sections of your paper, you should provide suggestions for what people or governments might do to improve upon the current situation.

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