The anatomy of government failure

  title={The anatomy of government failure},
  author={William R. Keech and Michael C. Munger},
  journal={Public Choice},
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… 

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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

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