1946，American Economist Henry Hazlitt's book "Economics in One Lesson" came out and quickly became a bestseller。Herz Lit introduced the theory of neoclassical economics，And proposed that economics can be condensed into a simple reason: market price represents the real cost of all things。

April 2019，University of Princeton University published a new book "Two lessons: why the market is good for the market，Why a serious failure ", And why they can fail so badly)。Kui Jin analyzed the reasonable and defects of economics represented by "One Class Economics"。Why does the market price often fail to reflect the entire cost of individual choices for the entire society，For this classic question，Kui Jin also tried to give her answer。From Kui Jin's view，Freedom letty, or government intervention in all economic activities is not desirable，Combining market forces with government bet365 Play online games regulation can be more helpful for good economic development。

　　bet365 Play online games

According to Kui Jin introduction，The ideological foundation of "One Class Economics" generally comes from French liberal economist Fredrick Basxia's 1850 works "La Loi" and "What are you see、2338_2384。At the same time，Keynesism, which advocates the government's active intervention to prevent and alleviate the economic recession，Herz Lit has given criticism in "One Class Economics"。"One Class Economics" one reason for many years is the reason is，Herz Lit explained the theory of defending the free market in a very clear and easy -to -understand way。Herz Lit has studied the price mechanism in a specific market in the field of microeconomics，but ignore the externality (externality)，That is, the behavior of a certain economic subject may cause losses (negative externality) or income (positive)，The price of the goods or services involved at this time is not completely reflected in its real cost。

In economics，"Opportunity cost" refers to the one with the highest value of other choices when bet365 best casino games making a certain decision，It includes but not limited to money cost。"One lesson economics" thinks，Market price decision and reflect opportunities cost。According to this idea，There is no improvement in public policy，The income distribution system after removing all government intervention should be the best。But，This ideal market balance contains multiple prerequisites，and the real market is not like this。

Kui Jin's proposal，In the idealized model of "one lesson"，All property rights are private ownership of land and capital，And this private ownership is naturally allocated，It existed before government activities。But in fact，It is impossible for us to cut off the congenital traits of certain property rights or people with the social and economic framework of their place，Any property rights began in the government's decision to give a person to use a specific product、Capital or thought rights。At the same time，Can this right be transferred to others、What way can be transferred，These are also in the government's control。

　　Price may not be equal to opportunity cost

Kui Jin when it comes bet365 live casino games to，Market failure can be divided into two categories，One is the real opportunity cost that the market price does not reflect the real opportunity for buyers and sellers，The other type is all or part of the opportunity cost of specific transactions.。In incomplete market competition, the first type of market failure will appear。Second type of market failure is related to negative external nature，The key is that those who suffer from some economic behavior have no decision in this behavior，Unable to request compensation from the subject of behavior。Although economic activities will bring positive externality，But one of the founders of the external theory、British economist Zigu thinks，Negative externality often occupies the upper hand，Because the private sector lacks a clear driving force to actively create positive externality，Negative external nature means that part of the cost to others，It will increase your own profit when there is no policy constraint。

Dagu's point of view was questioned by British economist Cos。Kos proposed，Bet365 app download If the property right is defined and perfect，Market price can still be consistent with opportunity costs。For example，Suppose a factory has the right to dump the sewage that is not purified by a river，Those who use the water downstream of the river can buy the property right of clean water from this factory，Then prohibit the factory from dumping sewage; on the contrary，If the downstream water uses the right to prevent the factory from dumping of sewage，But you can get clean water from elsewhere，Factory can also purchase sewage property rights from downstream water use。For this，Kui Jin said，External problems often involve public resources shared by all members of society，"Equipment Rights" or "No Pollution right" cannot really belong to a specific individual or organization，Otherwise, we just reduce pollution instead of reducing pollution from the whole，In the end, it will still threaten everyone's health and safety。

Kui Jin thinks，The attractive part of "Economics of One Lesson" comes from its desire to meet people with a simple solution to solve a series of complex bet365 Play online games problems。People instinctively tend to avoid the facts that may endanger their own advantages，Those who get rich by unusual business activities have no willingness to think and share negative externality，The biggest beneficiaries in the free market also hope to take the economic crisis、unemployment、Injustes of income and other issues are attributed to the limitation of the government's error intervention in the economy rather than the market itself。

(Newspaper Washington, May 19th)