None
EN
Michael Munger: Government Failure in One Lesson
[]
News RSS Feed
But government is necessary, and constitutions are necessary, so market failure has reasonably to be compared to its doppelganger, “government failure.” In analytic terms, more mundane government failures can be divided into two types: failures of substance and failures of procedure. Even then, conceding the dubious claim about knowing the correct solution, government fails to choose the optimal Pareto optimum, because government must use a procedure to decide.