Question
Government failure is when government policy results in a poor outcome. Market failure is when government allows the public and companies to mingle for a
Government failure is when government policy results in a poor outcome. Market failure is when government allows the public and companies to mingle for a poor outcome. Neoclassicists believe that most government policy fails and most market outcomes improve life. Can you site an example of failure for both?
Examples: government failure: I apologize now if any of you are postal workers but the post office is busy delivering nothing but junk mail. Important stuff comes in Fedex/UPS/Amazon vans.
market failure: Sprawl. Each afternoon we sit in traffic coughing on pollution and at night the roads are menaced by drunk/marijuana drivers. No building permits ought to be issued unless an address is accessible by transit!
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