Some Disadvantages of the Market

• Does not take collective (e.g., public or community) interests into account

• Ignores disparities in original endowments; no mechanism of redistribution to the poor

• Transaction, information, and bargaining costs interfere with the realization of its benefits

• No mechanism for resolving disputes or conflicts of interest other than economic power

• Cannot protect employees lacking market power from exploitation featuring subsistence wages, dangerous working conditions, discrimination in employment and other effects