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Externalities and the prisoner dilemma

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The so-called "Invisible Hand" of the market is viewed by some as a basis for an optimal economic system. Explain whether you think this view is right or wrong and whether you think those who are opposed to it are right in (often) justifying a larger role for government in the economy. Be sure to use concepts like externalities and the prisoner's dilemma and at least two of the readings by Heilbroner & Thurow Heath, Stanford week and Sagoff.

Reference no: EM133053470

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