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Author : Stephen Munday
Publisher : Heinemann
Page : 136 pages
File Size : 41,5 Mb
Release : 2000
Category : Business & Economics
ISBN : 0435330500
Markets and Market Failure provides a comprehensive introduction to this important area.
Author : Cassidy John,John Cassidy
Publisher : Penguin UK
Page : 485 pages
File Size : 42,8 Mb
Release : 2013-01-31
Category : Business & Economics
ISBN : 9780141939421
How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking. A very good history of economic thought Economist How Markets Fail offers a brilliant intellectual framework . . . fine work New York Times An essential, grittily intellectual, yet compelling guide to the financial debacle of 2009 Geordie Greig, Evening Standard A powerful argument . . . Cassidy makes a compelling case that a return to hands-off economics would be a disaster BusinessWeek This book is a well constructed, thoughtful and cogent account of how capitalism evolved to its current form Telegraph Books of the Year recommendation John Cassidy ... describe[s] that mix of insight and madness that brought the world's system to its knees FT, Book of the Year recommendation Anyone who enjoys a good read can safely embark on this tour with Cassidy as their guide . . . Like his colleague Malcolm Gladwell [at the New Yorker], Cassidy is able to lead us with beguiling lucidity through unfamiliar territory New Statesman John Cassidy has covered economics and finance at The New Yorker magazine since 1995, writing on topics ranging from Alan Greenspan to the Iraqi oil industry and English journalism. He is also now a Contributing Editor at Portfolio where he writes the monthly Economics column. Two of his articles have been nominated for National Magazine Awards: an essay on Karl Marx, which appeared in October, 1997, and an account of the death of the British weapons scientist David Kelly, which was published in December, 2003. He has previously written for Sunday Times in as well as the New York Post, where he edited the Business section and then served as the deputy editor. In 2002, Cassidy published his first book, Dot.Con. He lives in New York.
Author : Bernard Salanie
Publisher : MIT Press
Page : 239 pages
File Size : 40,9 Mb
Release : 2000-10-10
Category : Business & Economics
ISBN : 9780262264624
Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. In this book Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. He includes discussions of theories of collective decision making, as well as elementary models of public economics and industrial organization. Although public economics is traditionally defined as the positive and normative study of government action over the economy, Salanié confines himself to microeconomic aspects of welfare economics; he considers taxation and the effects of public spending only as potential remedies for market failures. He concludes with a discussion of the theory of general equilibrium in incomplete markets.
Author : Tyler Cowen
Publisher : Transaction Publishers
Page : 394 pages
File Size : 41,5 Mb
Release : 2024-06-07
Category : Business & Economics
ISBN : 1412832381
Assertions of market failure are usually based on Paul Samuelson's theory of public goods and externalities. This book both develops that theory and challenges the conclusion of many economists and policy-makers that market failures cannot be corrected by market forces. The volume includes major case studies of private provision of public goods. Among the goods considered are lighthouse services, education, municipal services, and environmental conservation.
Author : Clifford Winston
Publisher : Brookings Institution Press
Page : 154 pages
File Size : 49,5 Mb
Release : 2006
Category : Business & Economics
ISBN : UCSC:32106019031647
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 : Stephen Martin
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 55,6 Mb
Release : 2019
Category : Competition
ISBN : 1786432285
"The powerful theorems of welfare economics operate under a range of assumptions. Two of the most significant are the existence of competitive markets for all goods and services - including futures markets - and the unbounded rationality of all economic agents who act independently to maximize payoffs. In the contributions collected in this three-volume set, economists come to grips with the consequences of markets falling short of assumptions, as well as the response of institutions to observed market characteristics. Together with an original introduction by the editor, this comprehensive collection will be of interest to economists and policymakers who wish to understand the strengths and limitations of the market mechanism of resource allocation"--
Author : John Hearn
Publisher : Philip Allan
Page : 292 pages
File Size : 43,9 Mb
Release : 2000-04-01
Category : A-level examinations
ISBN : 0860032493
Author : Bernard Salanie
Publisher : MIT Press
Page : 248 pages
File Size : 44,8 Mb
Release : 2000-10-10
Category : Business & Economics
ISBN : 0262264625
Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. In this book Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. He includes discussions of theories of collective decision making, as well as elementary models of public economics and industrial organization. Although public economics is traditionally defined as the positive and normative study of government action over the economy, Salanié confines himself to microeconomic aspects of welfare economics; he considers taxation and the effects of public spending only as potential remedies for market failures. He concludes with a discussion of the theory of general equilibrium in incomplete markets.
Author : Clifford Winston
Publisher : Brookings Institution Press
Page : 147 pages
File Size : 40,9 Mb
Release : 2007-04-01
Category : Business & Economics
ISBN : 9780815793915
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.
Author : Peter Davis
Publisher : Unknown
Page : 0 pages
File Size : 44,7 Mb
Release : 2019-08-30
Category : Electronic
ISBN : 1510458093
Author : Brian P. Simpson
Publisher : Lexington Books
Page : 240 pages
File Size : 54,8 Mb
Release : 2005
Category : Business & Economics
ISBN : 073911364X
In all of the contemporary economics textbooks that have been written there is typically at least one chapter that addresses 'market failure.' Markets Don't Fail! is a response to what author Brian Simpson sees as a fundamental error in the thinking of some economists. The chapter titles of this book are crafted against the premises of 'market failure' arguments, and a significant portion of this book focuses on exposing the invalid premises upon which the claims of market failure are based and providing a proper basis upon which to judge the free market. The material in this book provides a strong antidote to the arguments typically presented in contemporary economics textbooks. Through example and argument, Brian Simpson shows that the claims against the free market are not true. In fact, he demonstrates how free markets succeed, how they raise the standard of living of all individuals who live within them, and how free markets allow human life to flourish. However, the book goes much deeper than economics by providing a moral and epistemological defense of the free market. Markets Don't Fail! gets to the fundamental, philosophical reasons why the claims of market failure are false and why markets actually succeed. Through an integration of economics and philosophy Simpson is able to provide a comprehensive, rigorous, and logically consistent defense of the free market. The specific topics covered in the book include monopoly, antitrust laws and predatory pricing, 'externalities,' the regulation of safety and quality, environmentalism, economic inequality, 'public goods,' and asymmetric information. This book is an invaluable tool for anyone who wants to gain a sound understanding of the free market.
Author : Charles Wolf, Jr.
Publisher : MIT Press
Page : 260 pages
File Size : 42,9 Mb
Release : 1993-09-02
Category : Business & Economics
ISBN : 0262731045
Provides a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. A theory of market failures is well established in economics, but the same has not been true for the study of nonmarket failures. Markets or Governments remedies this situation by providing a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. This new edition updates the data and results contained in the first edition and includes references and applications of the theory to the ongoing process of system transformation in Russia, Ukraine, and Eastern Europe. The discussion of earlier literature that is relevant to the theory of nonmarket failure has been expanded.
Author : Edward J. Balleisen,David A. Moss
Publisher : Cambridge University Press
Page : 579 pages
File Size : 51,6 Mb
Release : 2010
Category : Business & Economics
ISBN : 9780521118484
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 : Alain Marciano,Steven G. Medema
Publisher : Unknown
Page : 292 pages
File Size : 50,9 Mb
Release : 2015
Category : Economic policy
ISBN : 0822363992
Author : Tyler Cowen
Publisher : Edward Elgar Pub
Page : 367 pages
File Size : 48,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 1843760851
Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labor, credit, insurance, software, new technologies and even used cars, to give but a few examples. This volume brings together the key papers on the subject, including classic papers by Joseph Stiglitz, George Akerlof and Paul David.