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You provided a link on market failures and then apparently didn't read your own link. Here is the description of an important type of market failure:

A free market can work effectively only where the full benefits of goods and services go solely to the purchaser, and cannot be enjoyed free by anyone else who does not pay for them. Unless this condition is met, the producer cannot obtain payment for all the benefits he creates for others.

Here is why that matters here. Any given piece of space junk is a minor inconvenience to any given satellite operator. After the junk has been removed, there is no way to charge everyone who benefits from that junk being removed. Having no junk in near Earth orbit is therefore a public good. It is extremely well documented that markets are very poor at provisioning public goods.

This is the point about economics that I have been making over and over again. You keep on ignoring it. You keep on telling me that I just need to trust that the free market will work it out. You keep on telling me that corporations can figure things out. But it is utterly obvious to anyone who knows what a public good is that free markets can't solve this kind of problem.

Until you demonstrate that you know what a public good is, and understand why I keep on saying that this is a problem with provisioning public goods, you are missing a truly fundamental point of extreme importance.

About physics. If you have a physics background, then feel free to review my response to BrowserUk and review my evaluation of the solution he presented.


In reply to Re^12: "Practices and Principles" to death by tilly
in thread "Practices and Principles" to death by ack

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