Abstract
Markets can be efficient in allocating goods, services and resources. Left alone, efficient market allocations, in turn, result in industries and companies achieving their maximum economic efficiency. However, efficiency per se, may, at times, produce undesired impacts. These impacts may be of such magnitude that they warrant government or public intervention into markets. In a realistic and practical world, this intervention is not so much a question of “if” as a question of “when” and “how much.” Such is the case of the worldwide use of agricultural chemicals.
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Siebert, J.B. (1997). Use and Control of Agricultural Chemicals in the U.S.: Cost, Productivity and Efficiency Issues. In: Wallace, L.T., Schroder, W.R. (eds) Government and the Food Industry: Economic and Political Effects of Conflict and Co-Operation. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-6221-4_16
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DOI: https://doi.org/10.1007/978-1-4615-6221-4_16
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