Two examples of government failure
Recommend on Google+
Here are two examples of government failure - one an ill-judged intervention in the housing market. The other criticism that a major international organization has manipulated the definition of a pandemic and spread unnecessary fear about the risks associated with summer flu.
The new coalition government has moved swiftly to abolish Home Information Packs (HIPs) from the UK property market. Designed as a way of providing would-be buyers with more detailed information about properties for sale, they have proved to be hugely expensive, bureaucratic and largely irrelevant. A classic case of an intervention with good intentions but one that served merely to make the business of buying and selling a house even more time-consuming and expensive. More here
Secondly, questions are being raised over the World Health Organisation’s handling of the H1N1 swine flu pandemic last year and this. To what extent has the WHO succumbed to regulatory capture - being unduly influenced by the powerful pharmaceutical industry lobby.
“The lack of transparency in its decision making process, together with the WHO’s advice to countries to begin widespread vaccination against swine flu, has led some observers to suspect undue influence from the pharmaceutical industry”
blog comments powered by Disqus
Unit 2 Macro: Cyclical and Structural Economic Issues Facing the UK [23 May 2012]
Unit 3 Micro: Game Theory and Business Economics [21 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: Measuring Inflation in the UK [20 May 2012]
Unit 2 Macro: Bank Cuts UK growth Forecast for 2012 [16 May 2012]
Unit 1 Micro: Poverty and Inequality and Market Failure [12 May 2012]
Unit 1 Micro: Asymmetric Information [12 May 2012]
Unit 1 Micro: De-Merit Goods [12 May 2012]
Unit 2 Macro: Revision Notes on Supply-side Policies [10 May 2012]
Unit 1 Micro: Revision Blogs on Markets and Intervention [10 May 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Unit 4 Macro: The Euro Zone Crisis (Revision) [22 Apr 2012]
Unit 2 Macro: Revision on Interest Rates and the Exchange Rate [3 Apr 2012]
Unit 1 Micro: The Collapsing Price of Carbon [3 Apr 2012]
Unit 4 Macro: Floating and Managed Floating Exchange Rates [2 Apr 2012]
Unit 1 Micro: Revision on Maximum Rents in Housing [1 Apr 2012]
Unit 2 Macro: Revision on Capital Investment [30 Mar 2012]
Unit 1 Micro: Government launches New Buy Loan Guarantee Scheme [12 Mar 2012]
Unit 2 Macro: Policies to Drive Economic Recovery [9 Mar 2012]
Mortgage interest rates, LIBOR and game theory [3 Mar 2012]
The Economics of Climate Change - Stern 5 Years On [21 Feb 2012]
A return to Glass-Steagall to prevent another crash? A lesson from economic history. [17 Feb 2012]
Unit 4 Macro: King on the UK Economy [15 Feb 2012]
Martin Wolf on Global Shocks [10 Feb 2012]
Unit 1 Micro: Can the UK Computer Games Industry Grow [24 Jan 2012]
Unit 3 Micro: The Economics of Solar Subsidies [18 Jan 2012]
Unit1 Micro: Processed Meat and Cancer Risk - Information Failure? [17 Jan 2012]
Unit 2 Macro: Frontier Markets - the New BRICS? [15 Jan 2012]
Unit 4 Macro: UK Bond Yields Reach Record Lows [11 Jan 2012]
Unit 4 Macro: Natural Disasters and their Economic Impact [7 Jan 2012]
Unit 1 Micro: Prezi on the Economics of Negative Externalities [2 Jan 2012]
Unit 4 Macro: Exchange Rate Economics - Where next for the US Dollar? [31 Dec 2011]
Unit 2 Macro: The UK Housing Market in 2011 [26 Dec 2011]
Economics of Deforestation [20 Dec 2011]
Unit 1 Micro: Empty Housing and Economic Efficiency [15 Dec 2011]
Behavioural Economics: Herd Behaviour [28 Nov 2011]
Beyond the Bike - What is the value of life in Africa? [19 Nov 2011]
LSE Lecture: Daniel Kahneman - Thinking Fast and Slow [15 Nov 2011]
Unit 2 Macro: Should the EU introduce a Tobin Tax? [14 Nov 2011]
Unit 1 Micro: Asymmetric Information - Buying a Used Car [14 Nov 2011]
AS Macro: The State of British Business [13 Nov 2011]
Unit 4 Macro: Should TNCs make full disclosure on factory wages? [30 Oct 2011]
Unit 1 Micro: Is the Sun Dipping on Solar Subsidies? [27 Oct 2011]
Alcohol. Discuss! [18 Oct 2011]
Can the “invisible hand” solve Africa’s poverty? [13 Oct 2011]
Fat tax: Denmark [5 Oct 2011]
Unit 3 Micro: Tube Drivers set to earn £50,000 a year [3 Oct 2011]
Unit 1 Micro: Drink Driving and Government Intervention [26 Sep 2011]
Unit 4 Macro: IMF Flags up Risks of Double Dip [20 Sep 2011]
UK Macro: Risks of a Double Dip Recession [12 Sep 2011]
Starter Video: The Slums of Manilla [11 Sep 2011]
Monetary Policy Roundtable [25 Jul 2011]
Unit 1 Micro: FirstBuy, Affordability and Effective Demand in Property [10 Jul 2011]
Where there’s muck there’s brass [6 Jul 2011]
Global Economy: Increased risk of future shocks [28 Jun 2011]
Chinese inward investment in the London property market [12 Jun 2011]
A2 Macro: Consumer Spending [30 May 2011]
No more lighting up in Central Park? [25 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
A2 Micro: Business Growth [18 May 2011]
A2 Micro: Ownership and Control in Modern Businesses [18 May 2011]
Unit 3 Micro: Diseconomies of Scale [18 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
Electric car charging points ‘shortfall’ [11 May 2011]
Review of “Adapt” by Tim Harford [9 May 2011]
AS Micro: Offering heart drugs by default [5 May 2011]
AS Macro: Extended House Price Deflation? [5 May 2011]
A2 Micro: Innovation in Markets [4 May 2011]
AS Micro: Government Failure in Wind Farms [4 May 2011]
AS Micro: Revision on Government Failure [1 May 2011]
AS Micro: Importance of Elasticity of Supply [23 Apr 2011]
A2 Macro: Back to Roubini - a Year On! [11 Apr 2011]
AS Macro Key Term: Aggregate Supply Shock [6 Apr 2011]
AS Macro Key Term: Bubble [4 Apr 2011]
Information Failures: Tesco and Second Hand Cars [3 Apr 2011]
Pacific Peso Reaches 29 Year High! [30 Mar 2011]
Progress towards low carbon economic growth [18 Mar 2011]
Timetric: Mortgage Lending and Mortgage Rates [14 Mar 2011]
Information Failures: Health Warnings on Cigarette Packets [27 Feb 2011]
Information Failures: Ponzi Schemes [27 Feb 2011]
Fraud hits EU carbon emissions trading [20 Feb 2011]
Combining monetary and fiscal policy to curb inflation in China [16 Feb 2011]
The rise of the consumer regulator [15 Feb 2011]
Economics Q&A: Should the CAP be scrapped? [14 Feb 2011]
Mo Tanweer on Global Currency Wars [10 Feb 2011]
David Smith on Shifting Sands in the Global Economy [8 Feb 2011]
Martin Weale argues for higher interest rates now! [1 Feb 2011]
Regulation and the banking industry: reflections from Davos [30 Jan 2011]
Economics Q&A: Will the rise in VAT harm the UK’s economic performance? [17 Jan 2011]
Environmental Economics: Five Fresh Links [13 Jan 2011]
Economics Q&A: Will the Government spending cuts affect inflation? [3 Jan 2011]
Agflation - a new food price crisis in 2011? [18 Nov 2010]
Keeping the Plates Spinning - the Success of the Goodwood Brand [11 Nov 2010]
Extend and Enrich with EconoMax [29 Oct 2010]
The Acid Burns Through - Requiem for Neo Liberalism [28 Oct 2010]
The Upside of Irrationality - Dan Ariely at the LSE [27 Oct 2010]
Predicting recessions - a mugs game [27 Oct 2010]
Risks of over-capacity in Chinese car making [17 Oct 2010]
The Costs and Benefits of Inequality [17 Oct 2010]
Price mechanism in action - student car insurance [16 Oct 2010]
ECONOMICS TEACHER RESOURCE NEWSLETTER
Join over 6,000 other Economics Teachers in the UK and around the world who receive the tutor2u regular Economics Resource Email Newsletter. Get special offers, first news of latest resources, teaching ideas, conferences and workshops + loads of great ideas for teaching economics from our blog authors.
