Taxes are not all bad. ...[T]axes are used for infrastructure investments, for schooling, for basic research, and to bail out markets when they go ha… - John Komlos

The importance of is accentuated by the debate over the course of the material standard of living during the early phases of the industrial revolution, when food consumption still accounted for as much as three-fourths of total income among the laboring classes, even in the most advanced European societies.

[Imperfect information is ubiquitous.] People with more [or better] information can take advantage of people with less information, so exploitation becomes a real possibility.

The financial crisis of 2008 illustrated... how markets often go haywire, yet textbooks remain unchanged, failing to convey the fundamental flaws and systematic weaknesses of the free-market system.