1) Look at the news (a traditional newspaper such as the New York Times or Wall Street Journal, Google Business News, a news magazine, or video news show) where you can identify an example of market failure, where pursuit of profit brings about a worse-off circumstance, either for the economic actors or for society as a whole. The story should show either
How competition and self-interest brings about a worse outcome from either the economic actors or for society as a whole, or
How a current example of an economic externality (tragedy of the commons, free rider or moral hazard) brings about a worse outcome for the economic actors, for society as a whole, or both
2) Write a short piece in 300 words describing the incident or condition
explaining how it shows that free market, self-interested pursuit of profit brings about a worse-off condition for society.
**Below are Additional SHORT Videos that you NEED to watch to better understand the topic and write the paper. **
” https://www.youtube.com/watch?v=4uHPKrDBPUs&feature=emb_logo “
” https://www.youtube.com/watch?v=lOBcoepX1lI&feature=emb_logo “
” https://www.youtube.com/watch?v=XRUoiQ_K3_g&feature=emb_logo “
” https://www.youtube.com/watch?v=YFCSVSnMGWY&feature=emb_logo “
“https://www.youtube.com/watch?v=0b2Tl0x-niw&feature=emb_logo”
” https://www.youtube.com/watch?time_continue=1&v=hyGJJIi0jK4&feature=emb_logo “
” https://www.youtube.com/watch?time_continue=1&v=Uo51GDk8G1Q&feature=emb_logo “
” https://www.youtube.com/watch?v=qIQzMbQeY5E&feature=emb_logo “
” https://www.youtube.com/watch?v=l1EurubLq78&feature=emb_logo “
” https://www.youtube.com/watch?v=_SdtoKeFTi0&feature=emb_logo “