Correcting Market Failures Summary

Readings: James Phills and Lyn Denend (Packet), pp. 73-106. For any written assignment, please

select one of the three entrepreneurs (David Greene, Victoria Hale, or Jim Fruchterman), and use

answer the four questions below.

Study Questions:

1. Discuss the advocacy of the three entrepreneurs.

2. What problems did they face?

3. How did they address these problems?

4. Discuss how these cases illustrate the definition of “market failure.”

While the questions are similar across all three entrepreneurs, your cases should be submitted in

separate files: Do not use one file for two or more cases because I will have difficult ranking and

evaluating them. To be clear: if you combine the cases in a single file, I will be returning the file

to you—uncorrected. Please me mindful of this requirement.

Please save your submissions as follows: First Name, Last Name, Case.

Example: Gerardo Ungson, David Greene

Because I evaluate your cases comparatively, work on continuously improving your

submissions. In other words, what you might have done well in an earlier case might not

translate to the same grade because others are also ramping up the quality of their submissions.

Ask yourself the following:

 Completeness. Have you identified all the appropriate issues? In stating them, are you

focused on building a clear core argument?

 Context: Are you providing enough justification in your own words, or are you simply

restating the conclusions already reached in the case?

 Development: By way of comparison, a one-sentence answer will typically not be

sufficient. The questions are written in a way to invite substantiation.

 Originality: I leave this criterion up to you, although some of you have attempted to relate

answers to the class lectures, readings, and materials.