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And we know that most bankruptcies in the US are related to medical expenses. The market driven US health care system murders more people than all the terrorist groups put together. I commented on the recent meningitis outbreak another example of market failure with devastating results.
Definitions and Basics. Definition: Market failure, from Answers.com An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers.