What's the opposite of market based mechanisms? Regulation?

[SarcasticDwarf]

As far as I can tell, the opposite would have to be regulations, right? Also, a market based mechanism offers flexability in that it can quickly change to reflect the actual cost (mainly with tradable permits). Is there another way that it is flexable?

 

[sciencewhiz]

regulation is the middle ground that never works. The opposite is control.

 

[elanarchist]

The opposite of the market is a planned economy, or communism - that is, the government stipulates the production of goods and services rather than the market. When there are no externalities, the market is far more efficient. However, some services (fire protection) do not work in a free market, which is why we have the government provide us with public services.

 

[SarcasticDwarf]

I think I have ran across what my prof wanted us to say as the "other choice", and that would be command and control mechanisms, which I am guessing would be (mainly) regulation. Thanks science.

 

[ArmchairAthlete]

Originally posted by: SarcasticDwarf
I think I have ran across what my prof wanted us to say as the "other choice", and that would be command and control mechanisms, which I am guessing would be (mainly) regulation. Thanks science.

Tell your prof this "other choice" is totally awesome for a quick A! Heh heh.

 

[SarcasticDwarf]

Originally posted by: ArmchairAthlete

Originally posted by: SarcasticDwarf
I think I have ran across what my prof wanted us to say as the "other choice", and that would be command and control mechanisms, which I am guessing would be (mainly) regulation. Thanks science.

Tell your prof this "other choice" is totally awesome for a quick A! Heh heh.

suckup