Bruno S. Frey and Joseph Stiglitz about government failure and market failure

Miroslaw Bochenek ()
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Miroslaw Bochenek: Nicolaus Copernicus University

Ekonomia i Prawo, 2010, vol. 6, issue 1, 71-86

Abstract: J.E. Stiglitz claims that the state should intervene only in cases when it has possibility to reduce market failure. He postulates government and market co-operation, what can result in their reinforcement and effective solutions for social problems. Whereas, B.S. Frey notices that only a powerful nation is able to make rules for an economic game, which enable private markets to operate well.

Keywords: market failure; government failure; economic policy; history of economic thought (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkeip:v:6:y:2010:i:1:p:71-86

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