The free market system has been praised by many as the answer to the
             world's economic problems. It is the economic equivalent of democracy;
             every merchant is free to sell goods or services at a price determined by
             him- or herself. According to this system, the ideal is for an individual
             to pursue his or her own self-interest, which then culminates in a result
             that is also of benefit to society as a whole.
             The above view is fairly idealistic, and of course in reality
             circumstances often deviate from the ideal. Among the factors contributing
             to free market failure then include inapt government intervention, external
             factors, and a lack of relevant information.
             There has been considerable disagreement regarding the extent of
             government information that is proper for the free market system. This
             appears to be linked to political philosophy. Free market economists for
             example feel that government intervention should be minimized, while
             socialist economists feel that more state intervention is necessary. When
             government intervention is not optimized, the market outcome itself is less
             than optimal, and failure occurs, especially in terms of environmental
             exploitation. A potential solution could be government intervention by
             means of taxes, as well as education.
             Externalities include the cost to parties outside of the direct
             producer or consumer of goods. When these costs become too high, the
             market fails. Here proper monitoring practices can be implemented to
             ensure that the minimum impact occurs when a good is produced. It is also
             important to educated the public regarding the possible impact of
             production or consumption. When there is a lack of information regarding
             impact, the market may fail due to the consequent lack of resources. The
             solution in this case is appropriate education. With the correct
             strategies, is thus possible to optimize the free
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