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Lecture 11 - Market Failures Looking to the Government to...

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Market Failures Looking to the Government to Alter the Outcomes of Pure Self-Interest Income Distribution: That Equality Thing Again The Traditional “Market Failures” Monopolies Externalities and the Tragedy of the Commons Public Goods Information Limitations “Market Failures:” Rhetorical or Real? “Nonmarket Failures:” Is the Solution More Painful than the Problem?
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Market Failures Looking to the Government to Alter the Outcomes of Pure Self-Interest “Market failures” are typically described in terms of losses of efficiency or situations where the market does not efficiently allocate goods and services
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Market Failures Looking to the Government to Alter the Outcomes of Pure Self-Interest One man’s market failure is another man’s exception… one view might be the market really works most of the time, so don’t play with it by the heavy, visible hand of government
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Market Failures Looking to the Government to Alter the
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