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Misinterpretations of the Second Fundamental Theorem of Welfare Economics: Barriers to Better Economic Education |
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| Authors: | William D. A. Bryant |
| Affiliation: | Macquarie University in Sydney, Australia |
| Abstract: | Textbooks regularly interpret the second fundamental theorem of welfare economics by claiming it asserts that any desired Pareto optimum can be achieved by market prices. |
| Keywords: | |