Government Failure Versus Market Failure by Clifford Winston
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Government Failure Versus Market Failure
By Clifford Winston

Government Failure Versus Market Failure

Microeconomics Policy Research and Government Performance

By (author) See other recent books by Clifford Winston
Format: Hardback

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Government Failure Versus Market Failure by Clifford Winston

Book Description

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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Book Details

ISBN: 9780815793908
ISBN-10: 0815793901
Format: Hardback
(229mm x 152mm x 16mm)
Pages: 130
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 26-Oct-2006
Country of Publication: United States

Other Editions...


Books By Author Clifford Winston

First Thing We Do, Let's Deregulate All the Lawyers by Clifford Winston First Thing We Do, Let's Deregulate All the Lawyers, Paperback (August 2011)

Not many Americans think of the legal profession as a monopoly, but it is. Abraham Lincoln, who practiced law for nearly twenty-five years, would likely not have been allowed to practice today.

Last Exit by Clifford Winston Last Exit, Paperback (September 2010)

In Last Exit Clifford Winston reminds us that transportation services and infrastructure in the United States were originally introduced by private firms.

Aviation Infrastructure Performance by Clifford Winston Aviation Infrastructure Performance, Hardback (April 2008)

Aviation performance is an important cog in modern globalized economies, which demand flexibility, mobility, efficiency, and dependability. Airport delays have gone from being a nuisance to being a salient public concern, drawing the ire of even the White House.

Government Failure Versus Market Failure by Clifford Winston Government Failure Versus Market Failure, Paperback (October 2006)

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? Here, the author offers his analysis to assess the efficacy of government interventions.

» View all books by Clifford Winston

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Author Biography - Clifford Winston

Clifford Winston is a senior fellow in Economic Studies at the Brookings Institution, Washington, D.C., USA. Among his previous books are Deregulation of Network Industries: What's Next? coedited with Sam Peltzman (AEI-Brookings, 2000), and Alternate Route: Toward Efficient Urban Transportation , cowritten with Chad Shirley (Brookings, 1998).

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Recent books by Clifford Winston close
First Thing We Do, Let's Deregulate All the Lawyers by Clifford Winston
Last Exit by Clifford Winston
Aviation Infrastructure Performance by Clifford Winston
Aviation Infrastructure Performance by Clifford Winston
Government Failure Versus Market Failure by Clifford Winston
Essays in Transportation Economics and Policy by Clifford Winston
»
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