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Government Failure versus Market Failure

- Microeconomics Policy Research and Government Performance
Af: Clifford Winston Engelsk Paperback

Government Failure versus Market Failure

- Microeconomics Policy Research and Government Performance
Af: Clifford Winston Engelsk Paperback
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"

When should government intervene in market activity and when is it best to let market forces take their natural course? How does the existing empirical evidence about government performance guide our answers to these questions? In this clear, concise book, Clifford Winston offers his innovative analysis—shaped by thirty years of evidence—to assess the efficacy of government interventions. Markets fail when it is possible to make one person better off without making someone else worse off, thus indicating inefficiency. Governments fail when an intervention is unwarranted because markets are performing well or when the intervention fails to correct a market problem efficiently. Winston concludes from existing research that the cost of government failure may actually be considerably greater than the cost of market failure: ""My search of the evidence is not limited to policy failures. I will report success stories, but few of them emerged from my search."" The prevalence of market failure is due to a lack of conviction in favor of markets, the inflexibility of intervening government agencies, and political forces that enable certain interest groups to benefit at the expense of society as a whole. Winston suggests that government policy can be improved by making greater use of market-oriented solutions that have already produced benefits in certain situations.

"
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"

When should government intervene in market activity and when is it best to let market forces take their natural course? How does the existing empirical evidence about government performance guide our answers to these questions? In this clear, concise book, Clifford Winston offers his innovative analysis—shaped by thirty years of evidence—to assess the efficacy of government interventions. Markets fail when it is possible to make one person better off without making someone else worse off, thus indicating inefficiency. Governments fail when an intervention is unwarranted because markets are performing well or when the intervention fails to correct a market problem efficiently. Winston concludes from existing research that the cost of government failure may actually be considerably greater than the cost of market failure: ""My search of the evidence is not limited to policy failures. I will report success stories, but few of them emerged from my search."" The prevalence of market failure is due to a lack of conviction in favor of markets, the inflexibility of intervening government agencies, and political forces that enable certain interest groups to benefit at the expense of society as a whole. Winston suggests that government policy can be improved by making greater use of market-oriented solutions that have already produced benefits in certain situations.

"
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Produktdetaljer
Sprog: Engelsk
Sider: 146
ISBN-13: 9780815793892
Indbinding: Paperback
Udgave:
ISBN-10: 0815793898
Kategori: Politisk økonomi
Udg. Dato: 26 okt 2006
Længde: 10mm
Bredde: 158mm
Højde: 226mm
Forlag: Rowman & Littlefield
Oplagsdato: 26 okt 2006
Forfatter(e): Clifford Winston
Forfatter(e) Clifford Winston

Kategori Politisk økonomi

ISBN-13 9780815793892

Sprog Engelsk

Indbinding Paperback

Sider 146

Udgave

Længde 10mm

Bredde 158mm

Højde 226mm

Udg. Dato 26 okt 2006

Oplagsdato 26 okt 2006

Forlag Rowman & Littlefield

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