This sentence must be given to me for my exercise of paraphrasing or something a little bit similar:
- In both cases, the government is attempting to correct for the market's failure to provide information efficiently on its own.
- In both cases, the government is attempting to correct the market's failure to make it(=the market) provide information efficiently on its own.
I suppose there must be some other way of writing to make the same sense.
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Or, there may be a possibility that English speakers use correct for as a form of phrasal verb. Languages are living things, and usages may change, even though the usages of correct for as a phrasal verb cannot be found in dictionaries.