Editing Market failure (section)

===Marxian===
Objections also exist on more fundamental bases, such as [[Marxian economics|Marxian analysis]]. Colloquial uses of the term "market failure" reflect the notion of a market "failing" to provide some desired attribute different from efficiency – for instance, high levels of inequality can be considered a "market failure", yet are not [[Pareto efficiency|Pareto inefficient]], and so would not be considered a market failure by mainstream
economics.<ref name="krugman"/> In addition, many [[Marxian economics|Marxian]] economists would argue that the system of private property rights is a fundamental problem in itself, and that resources should be allocated in another way entirely. This is different from concepts of "market failure" which focuses on specific situations – typically seen as "abnormal" – where markets have inefficient outcomes. Marxists, in contrast, would say that markets have inefficient and democratically unwanted outcomes – viewing market failure as an inherent feature of any capitalist economy – and typically omit it from discussion, preferring to ration finite goods not exclusively through a price mechanism, but based upon need as determined by society expressed through the community.