Abstract
The analysis begins from the origin of the concept of market failure, and continues with an explanation of the reasons why a measure of political economy could worsen market allocation and the level of social welfare. Mention is made of the differences between Europe and the United States regarding the weight of the State in the economy, and of the efforts made by research to give a quantitative measure to government failure.
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Di Vita, G. (2015). Government Failure. In: Backhaus, J. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7883-6_215-1
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DOI: https://doi.org/10.1007/978-1-4614-7883-6_215-1
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Latest
Government Failure- Published:
- 11 August 2021
DOI: https://doi.org/10.1007/978-1-4614-7883-6_215-3
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Government Failure
- Published:
- 10 October 2015
DOI: https://doi.org/10.1007/978-1-4614-7883-6_215-2
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Government Failure- Published:
- 07 February 2015
DOI: https://doi.org/10.1007/978-1-4614-7883-6_215-1