That is because the very idea of market inefficiencies is heresy in the US.
Yup. Every major party in every developed country is Free market, it’s approach to market efficiency and market failures that differentiates them. You could argue US Republicans are the lone exceptions because their position is outside main stream economics.
Ordered from Right to Left on the political spectrum:
Mainstream US Republicans – “market failures don’t exist, prevent Govenrmetn6 failures at all costs” (completely outside mainstream economics)
Far Right EU, moderate Republicans, moderate Democrats – Chicago School “Market failures exist but Government failures are almost always worse.” (This is at the very edge of mainstream economics. My issue if that you can never get Chicago School economists to admit something needed to be regulated until after it blows up in which case they say something like “of course that should have been regulated, we don’t oppose all regulation”
Right Wing EU, Mainstream Democrats –Err on the side preventing Government failure. Measures to address market failures should not be taken unless the benefit is very clear.
Centrist EU, Left leaning Democrats – Try to balance Government and Market Failures.
Left Wing EU, US Left leaning 3rd party wannabe – Err on the side of preventing Market Failures.
80’s Communist block – “Government failures don’t exist, prevent market failures at all costs”