Jeffrey Frankel: The Startling Decline of Market-Based Approaches to Regulation: “Markets can fail. But, as has been demonstrated in areas like air pollution, traffic congestion, spectrum allocation, and tobacco consumption, market mechanisms are often the best way for governments to address such failures. So why are such mechanisms now in retreat?… Today, however, politics is … Continue reading Morning Must-Read: Jeffrey Frankel: The Startling Decline of Market-Based Approaches to Regulation