>refuses to recognize that market failure is a thing
So much this. I call it "Econ 101 Syndrome". My undergrad was in Economics, and the amount of damage that has been done by requiring Business majors (and others) to take Econ 101 and only Econ 101 is staggering. People walk away from those courses seeing the world through a lens of perfect competition, no externalities, no information asymmetries, no transaction costs, etc. and so end up coming to a faulty conclusion on every major policy question.
So much this. I call it "Econ 101 Syndrome". My undergrad was in Economics, and the amount of damage that has been done by requiring Business majors (and others) to take Econ 101 and only Econ 101 is staggering. People walk away from those courses seeing the world through a lens of perfect competition, no externalities, no information asymmetries, no transaction costs, etc. and so end up coming to a faulty conclusion on every major policy question.