The anatomy of government failure

@article{Keech2015TheAO,
  title={The anatomy of government failure},
  author={William R. Keech and Michael C. Munger},
  journal={Public Choice},
  year={2015},
  volume={164},
  pages={1-42}
}
Abstract Government failure is a much bigger problem than its contemporary treatment implies. Setting aside natural disasters, most of the great catastrophes of human history have been government failures of one sort or another. We argue that many so-called market failures are government failures because government defines the institutions in which markets succeed or fail. The concept of government failure has been trapped in the cocoon of the theory of perfect markets. Narrowly defined… 

Beyond market failure and government failure

Criticisms of market outcomes often rest upon a notion of ‘market failure,’ meaning that the market has failed to align incentives and knowledge to produce an optimal outcome. Rejoinders to classic

Political Failures in Innovation Policy: A Cautionary Note

Within the field of innovation studies, researchers have identified several market failures that hamper investment in R&D, innovation and growth in a market economy. Several policies such as

Markets, Market Failure and the Role of Government

This chapter introduces Pareto efficiency as the key normative concept of welfare economics and describes the conditions under which we expect efficiency or market failure. We pay particular

Do government formation deadlocks really damage economic growth? Evidence from history's longest period of government formation impasse

Several countries have experienced lengthy periods of government formation deadlock in recent years, as they have sought to form a new government. This study examines whether government formation

Do government formation deadlocks damage economic growth?: Evidence from history’s longest period of political deadlock

Several countries have experienced lengthy periods of political deadlock in recent years, as they have sought to form a new government. This study examines whether government formation deadlocks

Towards productive functions? A systematic review of institutional failure, its causes and consequences

Recognised as an integral part of the political process, the topic of institutional failure has recently received increased attention in the literature, particularly with respect to policy failure.

Government failures and non-performing loans in Asian countries

PurposeNon-performing loans (NPLs) may determine an overall weakness of the banking system within a country. The purpose of the present study is to analyze the impact of government failures on NPLs

State failure in the context of the operations of transnational corporations

: The main purpose of the paper is to discuss issues related to the failure of the state in the context of selected areas of operation of transnational corporations (TNCs). The analysis presented in

Government failures and non-performing loans in European countries: a spatial approach

PurposeThe purpose is to analyze the spatially varying impacts of corruption and public debt as % of GDP (proxies of government failures) on non-performing loans (NPLs) in European countries;

Understanding Long-Term Policy Failures in Shrinking Municipalities: Examples from Water Management System in Sweden

Depopulation is a major drawback for local government when it comes to managing technical infrastructure. In water and wastewater systems management, overcapacity is not only a problem in economic

References

SHOWING 1-10 OF 126 REFERENCES

Government Failure versus Market Failure: Microeconomics Policy Research and Government Performance

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

Markets or governments: Choosing between imperfect alternatives

  • C. Wolf,
  • Economics
    American Political Science Review
  • 1989
Economic studies historically have either extolled the virtues of perfect markets or decried the market's shortcomings, proposing that governments correct market failure. This book proposes as a

Economists and the Analysis of Government Failure: Fallacies in the Chicago and Virginia Interpretations of Cambridge Welfare Economics

The theory of government failure was developed as a reaction against Pigovian welfare economics and the Cambridge approach to economic policy analysis generally, which ostensibly lacked a theory of

Failed States and Institutional Decay: Understanding Instability and Poverty in the Developing World

What do we mean by failed states and why is this concept important to study? The ?failed states? literature is important because it aims to understand how state institutions (or lack thereof) impact

Why Nations Fail: The Origins of Power, Prosperity, and Poverty

In the West are the 'haves', while much of the rest of the world are the 'have-nots'. The extent of inequality today is unprecedented. Drawing on an extraordinary range of contemporary and historical

Saving government failure theory from itself: recasting political economy from an Austrian perspective

The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of government

Democracy and Political Ignorance: Why Smaller Government Is Smarter

One of the biggest problems with modern democracy is that most of the public is usually ignorant of politics and government. Often, many people understand that their votes are unlikely to change the

The Machinery of Freedom: Guide to a Radical Capitalism

This book argues the case for a society organized by private property, individual rights, and voluntary co-operation, with little or no government. David Friedman's standpoint, known as

Principled Agents?: The Political Economy of Good Government

1 COMPETING VIEWS OF GOVERNMENT The issues This book Background Economic Policy Making Political Economy Incentives and Selection in Politics Concluding Comments 2 THE ANATOMY OF GOVERNMENT FAILURE

Seeing Like a State: How Certain Schemes to Improve the Human Condition Have Failed

In this wide-ranging and original book, James C. Scott analyzes failed cases of large-scale authoritarian plans in a variety of fields. He argues that centrally managed social plans derail when they
...