Differences of Opinion Among Economists About Government and Market Efficacy

Arnold Kling

Econ Journal Watch, 2015, vol. 12, issue 1, 42-48

Abstract: Economists view activist government policy and social insurance as potentially protecting individuals from risks and from market failure. Perhaps differences among economists in support for activist government policy in social insurance and regulation reflect differences in beliefs about the relative efficacy of government and markets. Economists for whom market failure is relatively more salient and government failure is relatively less salient will tend to favor government activism, and conversely.

Keywords: Welfare state; regulatory state; regulation; redistribution; economists (search for similar items in EconPapers)
JEL-codes: A13 A14 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ejw:journl:v:12:y:2015:i:1:p:42-48

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