EPISODE · Dec 23, 2013 · 59 MIN
When Markets Fail
from Free Thoughts
What does it mean to say that something is a market failure and that public policy ought to fix it? Can the government actually provide these goods? How often do these situations occur? What does economics have to say about these public goods problems?Van Doren explains several key economic concepts, including the economist’s definition of a public good, Pareto optimality, and Cosean bargaining.Peter Van Doren is a senior fellow at the Cato Institute and editor of the quarterly journal Regulation. He is an expert in the regulation of housing, land, energy, the environment, transportation, and labor, and has taught at the Woodrow Wilson School of Public and International Affairs (Princeton University), the School of Organization and Management (Yale University), and the University of North Carolina at Chapel Hill. Hosted on Acast. See acast.com/privacy for more information.
What this episode covers
What does it mean to say that something is a market failure and that public policy ought to fix it? Can the government actually provide these goods? How often do these situations occur? What does economics have to say about these public goods problems?Van Doren explains several key economic concepts, including the economist’s definition of a public good, Pareto optimality, and Cosean bargaining.Peter Van Doren is a senior fellow at the Cato Institute and editor of the quarterly journal Regulation. He is an expert in the regulation of housing, land, energy, the environment, transportation, and labor, and has taught at the Woodrow Wilson School of Public and International Affairs (Princeton University), the School of Organization and Management (Yale University), and the University of North Carolina at Chapel Hill. Hosted on Acast. See acast.com/privacy for more information.
NOW PLAYING
When Markets Fail
No transcript for this episode yet
Similar Episodes
No similar episodes found.