Markets and their regulation in a fallen world (in Lithuanian - Rinkos ir jų reguliavimas pasaulyje po nuopuolio)

Economists often make unrealistic assumptions about human behaviour. They then relax those assumptions and identify "market failures" and make unrealistic assumptions about human behaviour in the government sphere in making judgements about how to react to those "market failures". This articles starts from realistic assumptions about human nature and asks what are the implications for how we should think about markets and their regulation.