Markets

Markets and Market Failure

Author: Stephen Munday

Publisher: Heinemann

ISBN:

Category: Markets

Page: 124

View: 953

Markets and Market Failure provides a comprehensive introduction to this important area.
Political Science

Market Failure in Training?

Author: David Stern

Publisher: Springer Science & Business Media

ISBN:

Category: Political Science

Page: 233

View: 290

The papers in this volume were fIrst presented at a symposium on "An Expanded Public Role in Job Training? The Issue of Market Failure in the Provision of Training. " The symposium took place in May, 1989. It was sponsored by the LaFollette Institute of Public Affairs at the University of Wisconsin, Madison. JozefRitzen, then in Madison on leave from Erasmus University in the Netherlands, organized the symposium. Subsequently he became Minister of Education and Science for the Netherlands. He asked David Stern to fInish the work of editing the papers for publication. All the papers have been revised in light of comments by discussants at the symposium, as well as subsequent comments by the editors and outside reviewers. INTRODucrroN AND OVERVIEW Jozef M. M. Ritzen Erasmus University Rotterdam Minister of Education and Science The Netherlands David Stem School of Education University of California, Berkeley Two factors are contributing to an increased interest in the training of adult employees. First, there is the present high rate of change in the technologies embodied in products and in production processes. This enhances the negative effect of the undersupply of training on economic growth. Higher levels of training would provide a more fertile environment for technological change. The second factor is the aging of the population.
Business & Economics

Government Failure versus Market Failure

Author: Clifford Winston

Publisher: Brookings Institution Press

ISBN:

Category: Business & Economics

Page: 130

View: 467

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.
Business & Economics

The Great Recession

Author: Robert L. Hetzel

Publisher: Cambridge University Press

ISBN:

Category: Business & Economics

Page: 384

View: 298

Argues that the 2008-9 recession needs to be understood as deriving from mistakes of central banks and regulators, not financial markets.
Financial crises

Emerging Market Failure

Author: Eileen M. Scott

Publisher:

ISBN:

Category: Financial crises

Page: 712

View: 416

This dissertation identifies a case of "emerging market failure," represented by the Mexican financial crisis of 1994/95. The hypothesis is that the financial crisis that occurred during the 1990s in Mexico is linked to the one that took place during the 1980s, and that both financial crises are manifestations of a single phenomenon. The two financial crises are strung together by a thread that involves freely-flowing international capital and an economy that is strongly reliant on the international capital market. This study finds that the principal explanation for both crises is located in the interaction of the following: the fundamentals of the Mexican economy that does not generate domestic savings and relies upon the international financial market; a political system that concentrates power at the expense of the democratic political process; and the governmental policies that pursue goals in the short-run at the expense of long-term outcomes.
Science

Intangibles, Market Failure and Innovation Performance

Author: Ahmed Bounfour

Publisher: Springer

ISBN:

Category: Science

Page: 310

View: 363

​This book addresses the issue of intangibles' contribution to growth at macroeconomic and microeconomic levels. It provides a review of a set of new approaches to innovation growth. It also considers the issue of how to invest in intangibles, especially with regard to the market failure issue. The book focusses on three major themes: First it provides a better understanding of how intangibles contribute to economic growth and value creation. In a second part it presents emerging practices as well as examples of market failure, analyzing managerial practices in relationship to market imperfections. Finally the book links the value of intangibles with innovation and the performance of firms.
Study Aids

AQA Economics Student Guide 1: The operation of markets and market failure

Author: Ray Powell

Publisher: Hachette UK

ISBN:

Category: Study Aids

Page: 112

View: 981

Exam Board: AQA Level: AS/A-level Subject: Economics Reinforce students' understanding throughout the course. Clear topic summaries with sample questions and answers will help to improve exam technique to achieve higher grades. Written by experienced authors Ray and James Powell, this Student Guide for Economics focuses on the key topics of economic methodology, markets and market failure. The first section, Content Guidance, summarises content needed for the exams, with knowledge-check questions throughout. The second section, Questions and Answers, provides samples of different questions and student answers with examples of how many marks are available for each question. Students can: - Identify key content for the exams with our concise summary of topics - Find out what examiners are looking for with our Questions and Answers section - Test their knowledge with rapid-fire questions and answers - Avoid common pitfalls with clear definitions and exam tips throughout - Reinforce their learning with bullet-list summaries at the end of each section
Business & Economics

Market Failure, Government Failure, Leadership and Public Policy

Author: B. Dollery

Publisher: Springer

ISBN:

Category: Business & Economics

Page: 214

View: 263

A global wave of reform is fundamentally reshaping the role of the state in national economies. This book provides a fresh and accessible perspective on the political economy of this megatrend. It traces the theoretical roots of the reforms to developments in public economics which emphasize problems of government rather than market failure. It then breaks new ground in developing an economic theory of leadership to explain how policy leadership networks can strive to influence the direction of reform processes.
Political Science

Market failure?

Author: Great Britain: Parliament: House of Commons: Communities and Local Government Committee

Publisher: The Stationery Office

ISBN:

Category: Political Science

Page: 190

View: 917

Market Failure? : Can the traditional market survive?, ninth report of session 2008-09, Vol. 2: Oral and written Evidence
Political Science

The Usefulness of Market Failure in Explaining Government Action

Author: Komiete Tetteh

Publisher: GRIN Verlag

ISBN:

Category: Political Science

Page: 14

View: 744

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.
Business & Economics

Fighting Market Failure

Author: Maria Cristina Marcuzzo

Publisher: Routledge

ISBN:

Category: Business & Economics

Page: 304

View: 108

This collection brings together fifteen essays published between 1994 and 2008 which all look into the contribution of a remarkable group of economists known as the "Cambridge school" or the "Cambridge Keynesians". The people involved are better defined as a "group" rather than a "school", to denote not adhesion to a common body of doctrine but rather the idea of both cohesion and sharing. This collection focuses on Keynes, Kahn, J. Robinson and Sraffa, who all shared in the physical space and lifestyle of the University of Cambridge. The bond between them was intellectual partnership, a recognised common ground, dialogue and acceptance of criticism. Some of the essays in this collection address the content, as well as the method and "style", of the type of economics associated with the Cambridge tradition at the very core of which those economists stand. The first section opens with a chapter presenting the group within the physical and metaphorical place which was Cambridge, and the remaining five chapters centre on the life and work of each economist. The second section has papers looking at them in pairs, as it were, and revolves around the theme of their collaboration in various intellectual achievements. In particular, the opening piece makes the rather bold point that the road to the General Theory was not a solitary path. In other two papers much is said of Sraffa's intellectual isolation in Cambridge and the difficulty of communication with Joan Robinson. The chapters in the third section take up aspects of their theories and approaches which justify the importance and relevance of the Cambridge tradition in economics. This book should be of interest to students and researchers within the history of economics and economic thought, particularly those focussing on the Cambridge or Keynesian traditions.
Business & Economics

The Ideas of Ronald H. Coase

Author: Lawrence W. C Lai

Publisher: Taylor & Francis

ISBN:

Category: Business & Economics

Page: 256

View: 708

This book is the first work dedicated to the key ideas of Nobel Laureate Ronald Coase on pollution and public goods with sustainable development in mind from the perspective of an economist-town planner. The seminal contributions of Ronald Coase, foretold in the form of the Coase Theorem by another Nobel laureate, George Stigler, have been much analyzed and often misinterpreted by friends and foes alike. In this book, Lawrence Lai attempts to revisit Coase's seminal works and bring to the fore their importance in economic and urban planning policy analysis. Coase's comparative institutional approach offers an important vehicle for the analysis of pressing social issues such as sustainable development, and all those interested in the creation of new platforms for performing policy analysis will welcome this important work.
Business & Economics

Market Failure

Author: László Andor

Publisher: Pluto Press (UK)

ISBN:

Category: Business & Economics

Page: 209

View: 768

No
Business & Economics

In what ways does the market fail where science and technology are concerned and can the government usefully address such failure

Author: Henning Schmidt

Publisher: GRIN Verlag

ISBN:

Category: Business & Economics

Page: 6

View: 839

Essay from the year 2004 in the subject Economics - Macro-economics, general, grade: 70%, University of Hertfordshire (Business School), course: Economic Policy, 10 entries in the bibliography, language: English, abstract: This assignment will deal with the question in what ways markets for science and technology fail and how a government can address to these failures. As approach there will be first the defining of the terms used, followed by a theoretical explanation of market failure and its causes in general. The major consideration will be towards the appropriability of the returns on an innovation. From here on, the possibilities of the state to intervene and its reasons for and against it will be looked at. Then it will be concluded which measures are considered a useful addressing towards this specific kind of market failure and which not. The question behind all considerations on intervention will be how either sufficient property rights are created or lacking property rights are compensated. Regarding “science and technology” this essay will take any activity inside of a national economy that is aimed to create knowledge of any kind as part of the consideration. It is acknowledged, that “technology” produces private goods with profit as driving incentive, whereas “science” is producing a public good, driven by the evaluation of other scientists (see Stoneman 1995 p. 4). A further distinction of both is not undertaken in this concern, as the question involves both terms and the differences are not considered to be crucial for the further considerations. The Schumpeterian approach that before an innovation as the development of an idea into a marketable product there needs to be the invention, the scientific generation of new ideas, and that an innovation ends with its diffusion is acknowledged as well (see Stoneman, 1987, pp. 8 - 9 ). In the following considerations these processes are considered given as part of the general economic activity. On markets, “property rights” are exchanged, deducted from the surrounding legal institutions, by which an economic agent controls an economic good to a certain extent (See Fritsch et al p.19, p.6). It will be shown that the basis for market failure lies within inadequate property rights for technology and also that to a certain extent, this is economically desirable. The theoretical concept of “market failure” founds on violations of the conditions necessary for a socially optimal and efficient result in perfect competition, i.e. uncertainty, externalities and indivisibilities (See Acocella, p. 89).
Business & Economics

Fighting Market Failure

Author: Maria Cristina Marcuzzo

Publisher: Routledge

ISBN:

Category: Business & Economics

Page: 336

View: 797

This collection brings together fifteen essays published between 1994 and 2008 which all look into the contribution of a remarkable group of economists known as the "Cambridge school" or the "Cambridge Keynesians". The people involved are better defined as a "group" rather than a "school", to denote not adhesion to a common body of doctrine but rather the idea of both cohesion and sharing. This collection focuses on Keynes, Kahn, J. Robinson and Sraffa, who all shared in the physical space and lifestyle of the University of Cambridge. The bond between them was intellectual partnership, a recognised common ground, dialogue and acceptance of criticism. Some of the essays in this collection address the content, as well as the method and "style", of the type of economics associated with the Cambridge tradition at the very core of which those economists stand. The first section opens with a chapter presenting the group within the physical and metaphorical place which was Cambridge, and the remaining five chapters centre on the life and work of each economist. The second section has papers looking at them in pairs, as it were, and revolves around the theme of their collaboration in various intellectual achievements. In particular, the opening piece makes the rather bold point that the road to the General Theory was not a solitary path. In other two papers much is said of Sraffa’s intellectual isolation in Cambridge and the difficulty of communication with Joan Robinson. The chapters in the third section take up aspects of their theories and approaches which justify the importance and relevance of the Cambridge tradition in economics. This book should be of interest to students and researchers within the history of economics and economic thought, particularly those focussing on the Cambridge or Keynesian traditions.
Business & Economics

Gale Researcher Guide for: Market Failure

Author: Nhan Le

Publisher: Gale, Cengage Learning

ISBN:

Category: Business & Economics

Page: 8

View: 434

Gale Researcher Guide for: Market Failure is selected from Gale's academic platform Gale Researcher. These study guides provide peer-reviewed articles that allow students early success in finding scholarly materials and to gain the confidence and vocabulary needed to pursue deeper research.