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Submitted by Gautam on

Dear Shanta,

Two things: one, I'm not sure about the private goods logic, especially when it comes to education. Lots of scholars argue that because the social benefits of a good healthcare system and a good educational system reach beyond the immediate benefits to the transacting parties, the market will always underproduce (this argument is very prominent in the fair use/education literature at the moment).

Two, I'm unconvinced by the empirical claim that there is no evidence of market failure in cases such as healthcare and education. I think that orphan drugs are an excellent example of market failure in healthcare, and the Marrakesh Treaty was ratified precisely because there was market failure in providing educational materials to visually impaired persons.