Search Results for market failure

...Alain Marciano; Steven G. Medema Market failure, conceived of as the failure of the market to bring about results that are in the best interests of society as a whole, has a long lineage in the history of writings on matters economic. The goal of the present volume is to explore the contexts within...

... theory of market failure in which depression stemmed from the failure of the financial machine to translate saving into investment. The article explores how these two views of market failure came together in the proceedings of the Temporary National Economic Committee, arguing that the ideas about...

...Bradley W. Bateman There is very little literature that discusses the work of Adam Smith and John Maynard Keynes together. The two share, however, at least one aspect in their analysis of capitalist society that points to a common understanding of the potential for market failure. But because...

...Marianne Johnson The core of public economics traditionally addresses two situations of market failure: externalities and public goods. While externalities fit neatly into neoclassical economics, public goods proved substantially more difficult to pin down. An interesting thread in the story...

... B. Davis, and Warren J. Samuels. Oxford: Blackwell. ____. 2005 . “Marginalizing” Government: From la scienza delle finanze to Wicksell. HOPE 37.1 : 1 -25. ____. 2007 . Pigou's Prima Facie Case: Market Failure in Theory and Practice. Working paper, University of Colorado at Denver...

... in the presence of externalities. We show that, in contrast with what most economists admit, Buchanan argued that, even if externalities are a cause of ``market failures,'' this cannot be used to legitimate the intervention of the state, because individuals tend to pay for the external effects their actions...

...David Colander Economists' current market failure policy frame provides a powerful lens through which to view the world and organize one's thoughts about policy. It is not the only, or most natural, frame through which to view policy, and it evolved from a broader classical policy frame...

... of large-scale production techniques, methods of corporate finance, and salesmanship. Institutionalists do not use the terminology of market failure, and neither do they use the competitive model as a standard, as a way of judging departures from an ideal, but in the many references to the need for new...

... the economic impact of the Poor Laws. And in Wealth and Welfare (1912), he generalized the framework, constructing a systematic analysis of market failures and the conditions under which they might be repaired. Correspondence may be addressed to Nahid Aslanbeigui, Department of Economics, Finance, and Real...

... to a commercial transaction? Yes, if, for instance, a price is seen as a price whether the term is used for public goods or for private goods. Or if the argument that government intervention is necessary to solve market failures is interpreted as reducing the state to a market. Or if focusing on government...

... . Marcuzzo Maria Cristina . 2012 . Fighting Market Failure: Collected Essays in the Cambridge Tradition of Economics . Abington : Routledge . Marcuzzo Maria Cristina . 2020 . “ ‘Pets and Favorites’: Keynes’s Practice as Investor in the Stock Exchange .” In History, Methodology and Identity...

... America’s Capacity to Produce Association), 51, 54, 71, (Nourse et al 108–9 106–7, 169 Amery, Leo, writing as “Tariff Agriculture, 32–33, 37–38, 129, Reformer,” 34 130n6 “Anatomy of Market Failure...

..., have sprung from these works, each with very different implications for theory and policy. The first views externalities as a case of market failure which can be reme- died, at least to some extent, through taxes, subsidies, or government regulation. The second emphasizes the potential...

... of Economic Issues 49 ( 3 ): 691 – 710 . ———. 2015b . “Public Goods, Market Failure, and Voluntary Exchange.” History of Political Economy 47 ( supplement ): 174 – 98 . ———. 2015c . “Dull, Unimaginative, and Extremely Limited Becomes Modern Public Economics.” Working paper . Leroy...

... that academic professional philoso- phy is insulated from a competitivemarketplace of ideas. Without competition, Kuhn and Wittgenstein do not have to confront Popper. For Bartley, progress in philosophy is hampered by the anticompetitive nature of the university establishment. There is market failure...

... . Bator Francis M. 1958 . “ The Anatomy of Market Failure ”. Quarterly Journal of Economics 71 ( 3 ): 351 – 79 . Bauer P. T. 1946 . Review of Prospects of the Industrial Areas of Great Britain, by M. P. Fogarty . Economica 13 ( 50 ): 148 – 50 . Baumol William J. 1949...

... University Press, Illiberal Reformers: Race, Eugenics, and American Economics in the Progressive Era . Copyright 2015 by Duke University Press 2015 expert Progressive Era regulation social control efficiency scientific management Taylorism market failure References Addams Jane...

...: Buchanan’s Dominance Considered .” American Journal of Economics and Sociology 64 ( 4 ): 1049 – 72 . Johnson Marianne 2015 . “ Public Goods, Market Failure, and Voluntary Exchange .” In Market Failure in Context , edited by Marciano Alain Medema Steven G. History of Political...

..., individual, economizing choice coordinated through a self-regulating market, “poli- tics becomes an alternative instrument to achieve what cannot be efficiently achieved by the market. This makes market failure the master idea of neoclassical political economy.” Thus, the state “may provide public...

... efficiency and the troublesome externalities would no longer interfere with economic and social welfare. According to this in- terpretation of Coase, market failures are misnamed. They are inefficiencies due to unwillingness or ignorance about how to use government properly to better define property rights...