While many market failures have political roots there are also many that happen with no government involvement whatsoever, i.e. Microsoft and the Ford Pinto.
Markets are pure. By definition, they cannot fail, unless tampered with.
Only in Chicago school fantasy land. Even Adam Smith recognized that markets weren't pure and that market players would work to unfairly weigh things to their advantage.
You think Microsoft and the Ford Pinto are markets? My gosh, this is going to be a fun day......
This is where you fell right into my trap, my little liberal friend: markets are indeed PURE, but they are not PERFECT. This is where little utopians get all messed up - trying to impose perfection on a world that clearly will never be. Markets are pure becuase they are by definition the result of millions of decisions made in freedom based on everybody’s best interests. Pure indeed.
only when they are infected do they become impure, and that is only when coercion by government perverts them.
The Pinto was pure: the market rejected it. Microsoft tried to pervert the market, but that does not change the TRUTH that markets are PURE and by definition they can be nothing else ever.