Results 1 to 7 of 7
  1. phorntita's Avatar
    • Member Info
      • Native Language:
      • Thai
      • Home Country:
      • Thailand
      • Current Location:
      • Thailand

    • Join Date: Feb 2009
    • Posts: 212
    #1

    sufficiently important

    Hello,
    I wonder what "sufficiently important" means in this context below?

    Critics of government intervention in the economy, such as Milton Friedman, believe the 4 sources of government failure are sufficiently important that the government should be restrained from attempting to remedy alleged or demonstrable deficiencies in markets.

    I assume that "sufficiently important" here may convey the meaning of so much important enough to cope with more than anything else and it's better that government should spend time solving problems consisting in all 4 said sources than trying to set to rights (rectify) all the alleged deficiencies in the markets.
    Could you advise me more ?
    Thank you for your time.

    PS. All the 4 sources are all the following:

    1) Limited information
    2) Limited control over private market responses
    3) Limited control over bureaucracy and
    4) Limitations imposed by political processes
    Last edited by phorntita; 06-Dec-2010 at 14:48.

  2. BobK's Avatar
    • Member Info
      • Native Language:
      • English
      • Home Country:
      • UK
      • Current Location:
      • UK

    • Join Date: Jul 2006
    • Posts: 16,038
    #2

    Re: sufficiently important

    () - You have the right idea, but you can't say 'so much important enough that', and I'm not sure where your 'cope with' comes from.

    Critics of government intervention in the economy, such as Milton Friedman, believe the 4 sources of government failure are important, to such an extent as to justify the restraining [either by statute or by reinterpretation or enforcement of existing statutes] of the government from attempting to remedy alleged or demonstrable deficiencies in markets.

    b
    Last edited by BobK; 06-Dec-2010 at 15:07. Reason: Addded first sentence

  3. phorntita's Avatar
    • Member Info
      • Native Language:
      • Thai
      • Home Country:
      • Thailand
      • Current Location:
      • Thailand

    • Join Date: Feb 2009
    • Posts: 212
    #3

    Re: sufficiently important

    Quote Originally Posted by BobK View Post
    Critics of government intervention in the economy, such as Milton Friedman, believe the 4 sources of government failure are important, to such an extent as to justify the restraining [either by statute or by reinterpretation of existing statutes] of the government from attempting to remedy alleged or demonstrable deficiencies in markets.

    b
    Does it mean that US government should ignore the alleged deficiencies in the markets and try to pay attention to the 4 sources of its failure instead?

  4. BobK's Avatar
    • Member Info
      • Native Language:
      • English
      • Home Country:
      • UK
      • Current Location:
      • UK

    • Join Date: Jul 2006
    • Posts: 16,038
    #4

    Re: sufficiently important

    Quote Originally Posted by phorntita View Post
    Does it mean that US government should ignore the alleged deficiencies in the markets and try to pay attention to the 4 sources of its failure instead?
    No, it means that the government should not interfere. The extreme view is that markets cannot have deficiencies (as long as they're free [a word that is open to a wide range of interpretations - BK]) The governments have those deficiencies; and therefore no government is qualified to intervene.

    b

  5. phorntita's Avatar
    • Member Info
      • Native Language:
      • Thai
      • Home Country:
      • Thailand
      • Current Location:
      • Thailand

    • Join Date: Feb 2009
    • Posts: 212
    #5

    Re: sufficiently important

    Quote Originally Posted by BobK View Post
    No, it means that the government should not interfere. The extreme view is that markets cannot have deficiencies (as long as they're free [a word that is open to a wide range of interpretations - BK]) The governments have those deficiencies; and therefore no government is qualified to intervene.

    b
    Thank you very much BObk. I'm doing a document translation from English to Thai and this is the last chapter before binding it as a text book of 23 chapters for our students of Naval War College to learn. It's about the military stuff, political and also economy in reality from US history.
    Phorntita
    <(:>)X

  6. BobK's Avatar
    • Member Info
      • Native Language:
      • English
      • Home Country:
      • UK
      • Current Location:
      • UK

    • Join Date: Jul 2006
    • Posts: 16,038
    #6

    Re: sufficiently important

    Good luck (It sounds like hard going!)

    b

  7. phorntita's Avatar
    • Member Info
      • Native Language:
      • Thai
      • Home Country:
      • Thailand
      • Current Location:
      • Thailand

    • Join Date: Feb 2009
    • Posts: 212
    #7

    Re: sufficiently important

    Quote Originally Posted by BobK View Post
    Good luck (It sounds like hard going!)

    b
    Thank you BObK . It's a backbreaking mission , you can say that, for I haven't slept before midnight over 7 months so far . Actually I'm a real editor of this translation book because my job is to scrutinize the concept, proofread , correct mistakes, change wordings for more than 20 chapters already and now I'm gaining more knowledge by taking a course of a real book editor at Chulalongkorn U on Sat as well. Take care.
    Phortita

Similar Threads

  1. mighty important vs very important
    By ostap77 in forum Ask a Teacher
    Replies: 3
    Last Post: 02-Oct-2010, 23:15
  2. are sufficiently sensitive
    By KLPNO in forum Ask a Teacher
    Replies: 3
    Last Post: 17-May-2009, 14:08
  3. important
    By kukinecka in forum Ask a Teacher
    Replies: 2
    Last Post: 09-Oct-2008, 18:50
  4. important for/ to sb
    By joham in forum Ask a Teacher
    Replies: 1
    Last Post: 13-Apr-2008, 14:57
  5. important Q
    By hulkman1 in forum Ask a Teacher
    Replies: 1
    Last Post: 15-Jan-2007, 07:25

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •