Government Failure Versus Market Failure PDF Download
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Author: Clifford Winston
Publisher: Brookings Institution Press and AEI
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
When should government intervene in market activity? When is it best to let market forces simply take their natural course? How does existing empirical evidence about government performance inform those decisions? Brookings economist Clifford Winston uses these questions to frame a frank empirical assessment of government economic intervention in Government Failure vs.
Author: Clifford Winston
Publisher: Brookings Institution Press and AEI
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
Get Book Here
Book Description
When should government intervene in market activity? When is it best to let market forces simply take their natural course? How does existing empirical evidence about government performance inform those decisions? Brookings economist Clifford Winston uses these questions to frame a frank empirical assessment of government economic intervention in Government Failure vs.
Author: B. Dollery
Publisher: Springer
ISBN: 0230372961
Category : Business & Economics
Languages : en
Pages : 229
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Book Description
A global wave of reform is fundamentally reshaping the role of the state in national economies. This book provides a fresh and accessible perspective on the political economy of this megatrend. It traces the theoretical roots of the reforms to developments in public economics which emphasize problems of government rather than market failure. It then breaks new ground in developing an economic theory of leadership to explain how policy leadership networks can strive to influence the direction of reform processes.
Author: Wilfred Dolfsma
Publisher: Edward Elgar Publishing
ISBN: 1782547169
Category : Political Science
Languages : en
Pages : 167
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Book Description
'Starting from the idea that market and state are intertwined domains, and explaining the economy as a system of communication evolving through innovation, this excellent book makes a valuable contribution to understanding government rule setting in knowledge-based economies. It provides a taxonomy of ways in which government rules function more or less successfully, and addresses the important problem of institutional vulnerability. Intellectual property rights laws and reform of health care systems are perceptively discussed. This book is strongly recommended for public policy experts and researchers investigating the publicprivate economy.' John Davis, Marquette University, US and University of Amsterdam, The Netherlands 'Since the 1970s the conventional wisdom has been that governments should retreat from the economic sphere and enhance the role of markets. The financial crash of 2008 has brought that into question. This stimulating set of essays considers the role of government in modern complex economies. Addressing the potential for both government failure and market failure, and drawing on empirical evidence, these studies are important contributions to a revived debate.' Geoffrey M. Hodgson, University of Hertfordshire, UK 'The idea that governments as well as markets can fail has been central to the public choice literature for the last half century. Typically government failure is described and measured as excessive expenditures or unbalanced budgets. This original book points out that government failures often take the form of inappropriate or inconsistent rules governing the private sector. The argument is nicely illustrated using real-world examples in the areas of healthcare, innovation, and intellectual property. The book is a timely and important contribution to the literature.' Dennis C. Mueller, University of Vienna, Austria This highly unique book takes a fundamental look at when and how a government can fail at its core responsibility of formulating rules. Government, representing society, relates to the economy by formulating the rules within which (market) players should operate. Although market and business failure are much discussed in the economics literature, government failure is often overlooked. This book addresses this gap, exploring in detail what constitutes government failure. Wilfred Dolfsma illustrates that it is not adequate to discuss government failure simply with reference to its level of expenditure, as is usually the case. Defining government failure and analysing it in the domains of health care, innovation and technology, he explores topics such as how market and society relate, consequences of conflicts between government policies, how government should (not) intervene, the vulnerability of institutions and rules (set out by government), and suggests a welfare perspective for evaluative purposes. This stimulating and thought provoking book will prove a fascinating read for academics, researchers and advanced students in economics particularly public choice and institutional economics public administration, policy studies, and law and economics.
Author: Helen Hughes
Publisher: Cambridge University Press
ISBN: 0521351294
Category : Business & Economics
Languages : en
Pages : 395
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Book Description
This book examines the economic success of the industrializing economies of East Asia. Judged in terms of economic growth, or by a combination of economic and welfare criteria, this group of East Asian countries has established a clear lead over other developing areas of the world.
Author: Edward J. Balleisen
Publisher: Cambridge University Press
ISBN: 0521118484
Category : Business & Economics
Languages : en
Pages : 579
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Book Description
After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
Author: Gordon Tullock
Publisher: Cato Institute
ISBN: 1935308009
Category : Political Science
Languages : en
Pages : 211
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Book Description
When market forces fail us, what are we to do? Who will step in to protect the public interest? The government, right? Wrong. The romantic view of bureaucrats coming to the rescue confuses the true relationship between economics and politics. Politicians often cite "market failure" as justification for meddling with the economy, but a group of leading scholars show the shortcomings of this view. In Government Failure, these scholars explain the school of study known as "public choice," which uses the tools of economics to understand and evaluate government activity. Gordon Tullock, one of the founders of public choice, explains how government "cures" often cause more harm than good. Tullock provides an engaging overview of public choice and discusses how interest groups seek favors from government at enormous costs to society. Displaying the steely realism that has marked public choice, Tullock shows the political world as it is, rather than as it should be. Gordon Brady scrutinizes American public policy, looking closely at international trade, efforts at regulating technology, and environmental policy. At every turn Brady points out the ways in which interest groups have manipulated the government to advance their own agendas. Arthur Seldon, a seminal scholar in public choice, provides a comparative perspective from Great Britain. He examines how government interventions in the British economy have led to inefficiency and warns about the political centralization promised by the European Community. Government Failure heralds a new approach to the study of politics and public policy. This book enlightens readers with the basic concepts of public choice in an unusually accessible way to show the folly of excessive faith in the state.
Author: Randy T. Simmons
Publisher: Independent Institute
ISBN: 1598130595
Category : Political Science
Languages : en
Pages : 572
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Book Description
Providing students of economics, politics, and policy with a concise explanation of public choice, markets, property, and political and economic processes, this record identifies what kinds of actions are beyond the ability of government. Combining public choice with studies of the value of property rights, markets, and institutions, this account produces a much different picture of modern political economy than the one accepted by mainstream political scientists and welfare economists. It demonstrates that when citizens request that their governments do more than it is possible, net benefits are reduced, costs are increased, and wealth and freedom are diminished. Solutions are also suggested with the goal to improve the lot of those who should be the ultimate sovereigns in a democracy: the citizens.
Author: Paul de Grauwe
Publisher: Oxford University Press
ISBN: 0198784287
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
Paul De Grauwe examines why a healthy mix of market and state seems so difficult and analyses the internal and external limits of the market and the government, and the swing between these two points.
Author: Donald A. Wittman
Publisher: University of Chicago Press
ISBN: 9780226904238
Category : Political Science
Languages : en
Pages : 244
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Book Description
In The Myth of Democratic Failure, Donald A. Wittman refutes one of the cornerstone beliefs of economics and political science: that economic markets are more efficient than the processes and institutions of democratic government.
Author: Daron Acemoglu
Publisher: Currency
ISBN: 0307719227
Category : Business & Economics
Languages : en
Pages : 546
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Book Description
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
