The fact remains that even though states are a remedy for human weakness and imperfection, as human constructs they always remain an imperfect one.
To economists, this is a market imperfection begging for arbitrage.
This showed them the merits of occasionally admitting imperfection, and even of offering a prime-ministerial apology.
But no such adaptive change is seen in collections of hoverflies made over the course of the past two centuries, suggesting that the imperfect mimics are stable in evolutionary terms.Dr Edmunds's argument is that there are advantages in imperfection.
But everyone is still waiting impatiently for clearer signs of an economic rebound.Mr Videgaray explains how his MIT-honed belief in the imperfection of markets, especially in Mexico, helped shape the reforms.
This is because such a lens need not be limited by an imperfection known as the diffraction limit, which has set a ceiling on the accuracy of optical systems ever since lenses were first polished.That is an altogether more subtle claim.
Eliminating one market imperfection (such as poor information) need not bring the ideal of a frictionless economy closer, because this may magnify the effect of remaining distortions (such as managerial short-termism or illiquid markets).The paper also underlines some lessons about market liquidity that have been painfully learned outside of academia in the recent market troubles.
It is, as all ideals, unachievable by our flawed and finite selves, the imperfection and vulnerability of which Havel understood so very well.
In a theoretical model, the authors show that there can be two reasons for a child to work: the imperfection of the capital markets, as outlined above, in translating future earning-potential into present spending-power; and the inability of parents to make "negative" bequests to their children.
Internet users expect things to be free, and are prepared to accept a certain degree of technological imperfection.
It is now time to accept imperfection, fallibility and humanity; to expect less of one person and more of a team; in other words to reposition the leadership model in the realities of the new world.The value of values in leadershipTo judge those of whom we have expectations, we must understand and appreciate the difference between values and value.
