Do markets solve all of society's problems?

Answer 1

Markets are effective at allocating resources and driving innovation, but they do not solve all of society's problems. They often fail to address issues like inequality, public goods provision, and externalities such as environmental degradation. Moreover, markets can perpetuate systemic injustices and may overlook the needs of vulnerable populations. A balanced approach that includes government intervention and social frameworks is often necessary to address these complexities.