Government action is based on majority rule, whereas market action is based on mutual consent. The market
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Government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken through government.” In your own words, explain the meaning of this statement. Is the statement true? Why or why not?
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The statement highlights a fundamental difference between government action and market action in terms of decisionmaking processes and the treatment o...View the full answer
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Related Book For 
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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