Market Failure-Negative Externalities

What is market failure? There are four reasons. 1.externalitiy 2.public goods 3.asymmetric information 4.monopoly And, news below is caused by negative externalitiy--alcohol. Simply speaking, market failure would result in some problems like allocative inefficiency. _ Due to the high temperature in Australia, crime has soared, causing loss in residents and businessmen. Australians universally considered aboriginals in Alice Springs and Northern Territory as the origin of the crime, owing to the poverty, criminality, and the number of hospital patients because of alcohol abuse. In 2007,Australia government was actually banned on sale and consumption on alcohol(booze), and the expired time had met in 2022, making aboriginals themselves suggest that politicians legislate again to ban the alcohol. To aboriginals, the way to make legislation is to protect women and children from violations. But according to some researchers, the main problem is the poverty and marginalisation, resulted from low income and imperfect education.

References:Australia re-bans alcohol in some Aboriginal communities