WHY LIMIT GOVERNMENT? AN INTRODUCTION TO THE STUDY OF GOVERNMENT FAILURE FROM PUBLIC CHOICE PERSPECTIVE
Abstract
The theory of government failure developed by public choice economists is
also called “the non-market failure theory”. The government failure theory
in short, explains the negative results of the regulations and interventions
made by the state to the economy. As market failure exists according to
public choice economists, government can also fail due to various reasons.
When the government intervenes in the economy to cure an economic
problem only ends up creating more problems. In sum, government failure
is imperfection in government performance and explores the deficiencies of
political decision making process.
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Details
| Other ID | JA79BD57AS |
|---|---|
| Journal Section | Research Article |
| Authors | |
| Publication Date | June 1, 2017 |
| Published in Issue | Year 2017 Volume: 9 Issue: 2 |