Market Failures: an argument for, or against, government? (in English)

Market Failures: an argument for, or against, government? (in English)

In-person seminar: Amphitheater 118 | Main Building – School of Economics and Management, University of Porto

Economist and Law Professor (Retired at this present time)

David Friedman is one of the biggest names of the Chicago school of economics today, continuing the legacy of his father, Milton Friedman, founder of the Monetarist School of Thought. He graduated from Harvard University with a bachelor’s in Chemistry and Physics, and received his master's and doctorate in Physics from the University of Chicago. Even so, he decided to focus on his passions: economics and law. Even so, he decided to focus on his passions: economics and law. In his most famous book, “The Machinery of Freedom”, he defends the capitalist and free market system and presents his vision of how the roles that a State performs in society, nowadays, can be performed voluntarily by the free market, including the legal system. He is also the author of more than 6 books on economics, law and libertarianism, including “Future Imperfect: Technology and Freedom in an Uncertain World” and “Legal Systems Very Different From Ours”. He gives lectures all over the world, teaching us to see the effects of economic and legal policies beyond the visible, on one group, and, more importantly, the effects that are not immediately visible, on everyone else.

About the session

In this lecture, David Friedman delves into the common arguments about market failures, including the theory of “public goods”, but this time applying the same logic to the actions and incentives of the government, who is commonly (and incorrectly?) seen as the answer to these challenges of the free market. The registration is free and open to everyone.

About the organization

Students for Liberty is the largest pro-Liberty student organization in the world. We believe that a freer world is a better, more prosperous and fairer world. We educate, develop and empower the next generation of leaders for Liberty, in order to have a global network of leaders who advance the cause of Liberty in all areas of society.

FEP Economics Society is a non-profit organization based in the School of Economics and Management of the University of Porto whose mission is to provide a space for the academic community to Think, Debate and Study Economics. It is FES’s main goal to bring all students closer to the economic reality while promoting critical thinking, knowledge and an interest for Economics as an essential factor in our lives and central to decision-making.

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