An Absence of Theory

June A. Sekera ()
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June A. Sekera: Tufts University

Chapter Chapter 6 in The Public Economy in Crisis, 2016, pp 81-92 from Springer

Abstract: Abstract Governments are not market institutions. That may seem obvious. Why, then, does economics have no analysis of this non-marketNon-market system of production, no explanation for how it works, and so no understanding of the fundamental dynamics and forces that drive the public economy? There is a void. This conceptual vacuum with regard to non-market dynamics has not drawn the interest even of heterodox economists; instead, it has invited neoclassical claims that market principles do, or should, govern the public economy. This in turn has opened the barn door to the marketizationMarketization of government.

Keywords: Public Choice; Market Failure; Public Economy; Social Choice Function; Public Enterprise (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-3-319-40487-5_6

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