qI conclude that scholarly research has consistently found substantial failure in government's efforts to correct market failures and that neither failure is often corrected in an appropriate manner. But the situation is not insolvable because policy-makers have shown some capacity to learn. The common problem with market failure policies has suggested a common solution calling for policies that rely on a market-oriented framework. I sincerely hope the economics profession and the policy community will build on the scholarship that underlies these conclusions with the ambitious aim of opening the door to greater wisdom.q From the Conclusion Book jacket.Eight years later, Godek (1997) found that CAFE caused consumers to shift to light trucks (vans, minivans, and SUVs) instead ... Fuel efficiency standards were set in March 2006 for the heaviest vehicles in this category such as the Hummer H2anbsp;...
|Title||:||Government failure versus market failure|
|Publisher||:||Brookings Institution Press - 2006-11-01|