완전시장이란? 시장실패의 원인( 예, 교통체중,credit crunch) 영어에세이

소개

Tim Harford (팀하포드) The undercover economist (경제학 콘서트) 를 참고하여
완전시장이란 시장실패의 이유 그리고 교통체중과 미국 서브프라임에 의한 credit crunch 를 예로들어 설명하고 쓴 영어 에세이 입니다. 약 1000자 에세이.

목차

Introduction
Perfect market
Market Failure(eg, Traffic Jam, credit crunch)
conclusion

본문내용

In recent years, global economic downturn which derived from financial turmoil has increased rapidly and for many advanced economies, including the US and EU, a recession is under way as job prospects have inevitably dimmed. In the meantime the US government has implemented the various bail-out packages to assist the concerned financial sectors and to recover its economy. It is somewhat agreed among people that the credit crunch is an example of ‘market failure’ that requires a big government bailout whereas some people consider it is not market failure but just a systemic failure of markets or regulatory failure. Hence this essay explores the concept of a perfect market and a market failure, looking at example in traffic jams, and argues whether the credit crunch is an example of market failure or not.
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For example, auto manufacturers pollute the air then it is quite bad for our surroundings and health, while a project to improve the water quality influences other people’s lives for the good. From this point of view, we see traffic jam as an example of a negative externality

참고자료

· -Chari, V.V., Christiano, L. and Kehoe, P (2008) Facts and Myths about the Financial Crisis of 2008, Working Paper 666, Federal Reserve Bank of Minneapolis Research Department
· -Harford, Tim. (2006) The undercover economist, Little Brown, London
· -Hutton W. and Schneider P. (2008) The failure of market failure: Towards a 21st century Keynesianism, Provocation, NESTA
· -NAVER. Perfect market, [Internet] Available from:
· <http://100.naver.com/100.nhn?docid=117115> [Accessed 1 Feb 2009]
· -Economics , Lipsey and Chrystal 8th edition