| The Usefulness of Market Failure in Explaining Government Action: A Critical Evaluation Contributor(s): Tetteh, Komiete (Author) |
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ISBN: 3656535760 ISBN-13: 9783656535768 Publisher: Grin Verlag OUR PRICE: $36.01 Product Type: Paperback Published: November 2013 |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - General - Political Science | Public Policy - General |
| Physical Information: 0.04" H x 7" W x 10" (0.12 lbs) 20 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Scientific Essay from the year 2013 in the subject Business economics - Economic Policy, grade: A, School of Oriental and African Studies, University of London, language: English, abstract: This paper contributes to the discourse on the usefulness of market failure as an explanatory and justificatory tool for public policy and government action. Critically examining and evaluating market failure's theoretical robustness, ideological underpinnings, institutional claims and practical application, it argues that while the tool offers some insights into what governments (can) do, it fails to provide a compelling answer to the fundamental question of why governments exist. It is suggested that alternative approaches and theorizations such as institutional political economy and historical inquiry offer more comprehensive explanations for understanding the role and relationship between the state and the market. |