Comments on “Marketing Systems and Market Failure”

William Redmond (2018) recently explored the systems context of market failure, the circumstance where exchange systems, including their interactions with the social environments in which they are imbedded, perform at less than desirable levels. This commentary adds to the retrospective provided in that article, also noting that some aspects of the systems perspective on market failure were recognized before that concept was widely recognized in the macromarketing literature.