Jackoby on Government Failure

Sunday, March 09, 2008

How government makes things worse - Jeff Jacoby writes about the law of unintended consequences and government failure in today’s Boston Globe. There are spooky parallels with failed government policies here at home.

“WHAT DO ethanol and the subprime mortgage meltdown have in common? Each is a good reminder of that most powerful of unwritten decrees, the Law of Unintended Consequences - and of the all-too-frequent tendency of solutions imposed by the state to exacerbate the harms they were meant to solve.”

Read the remainder of the article here

Unintended consequences of the smoking ban

Saturday, February 09, 2008

Any government intervention in the market can give us cause to consider the Law of Unintended Consequences where a policy decision or action leads to fresh actions which might not have been considered by those putting a policy in place. Some of these knock-on effects can be positive, a windfall that enhances the impact of the original decision. Others can be negative leading to fears of government failure and a deepening of an existing problem or market failure. The smoking ban seems to be providing a rich seam of examples of such unintended blow-back effects.

read more...»
Page 1 of 1 pages


Most Popular Topic Tags on the Economics Blog

recession, demand, economics, unemployment, price, prices, inflation, investment, costs, profit, downturn, trade, supply, debt, confidence, euro, gdp, competition, employment, capacity, production, risk, china, oil, incentives, exports, housing, expectations, pay, manufacturing, sterling, food, profits, property, tutor2u, mortgage, globalisation, banks, revision, slowdown, borrowing, usa, retailers, emissions, airlines, innovation, deflation, dollar, supermarkets, entrepreneur, efficiency, monopsony, elasticity, aqa, welfare, consumption, economist, productivity, saving, keynes, opec, wealth, depression, moodle, depreciation, jobs, credit crunch, competitiveness, cars, google, stocks, infrastructure, economic cycle, environmental, strategy, tim harford, externalities, carbon, vle, subsidy, evaluation, management, eu, losses, protectionism, spare capacity, inequality, environment, poverty, monopoly, bank of england, construction, behavioural, macroeconomics, output gap, budget deficit, carbon trading, steel, wages, japan, commodities, oligopoly, currencies, imports, bbc, stagflation, contestable, cpi, agflation, farming, newsnight, choices, skills, regulation, survey, taxes, government failure, itunes, minimum wage, lse, climate change, paul mason, population, intervention, aviation, keynes society, fiscal stimulus, amazon, single market, pricing, dan ariely, cartel, eton college, pollution, interest rates, shareholder, london, rationality, redundancies, market failure, rpi, mpc, shipping, behavioural economics, germany, robert peston, india, rsa, reputation, facebook, income elasticity, stakeholders, current account, brazil, coffee, savings, microsoft, crowding out, monetary policy, barriers to entry, collapse, nationalisation, multiplier effect, suppliers, economies of scale, price discrimination, development, uk economy, quiz, quantitative easing, currency, apple, surplus, tesco, free, labour market, behaviour, opportunity cost, tragedy of the commons, open source, vat, smoking, poverty trap, ireland, growth, merger, edinburgh, ownership, discrimination, global, cost benefit analysis, oecd, supply chain, shareholders, scarcity, balance of payments, petrol, liquidity, duopoly, iphone, starbucks, trade deficit, happiness, etonomics, scrappage, human capital, capital, subsidies, immigration, eurozone, takeover, exploitation, ecb, paradox of thrift, taxation, wiki, advertising, iceland, utility, wants, labour force survey, cost of living, brand, poland, blog, speculation, foreign exchange, spain, indirect tax, northern rock, roger bootle, ocr economics, robert frank, animal spirits, heathrow, hbos, hotels, freight, federal reserve, kaletsky, price war, information failure, crude oil, gini coefficient, transport, creative destruction, leverage, sony, us economy, migrants, information, fishing, waste, milk, tax, government borrowing, budget, eu enlargement, anchoring, obama, entrepreneurship society, aggregate demand, peter day, recovery, needs, internet, forecast, european union, discounting, real income, copper, deficit, public sector, contestability, nissan, companies, david smith, fairness, standard of living, aqa economics, blogging, martin wolf, renewable, twitter, sentiment, labour mobility, imf, accelerator effect, geoff riley, collusion, income tax, obesity, guardian, fair trade, pubs, consumer welfare, res, disposable income, national debt, devaluation, consumer surplus, corus, vacancies, global economy, broadband, sub-prime, tariff, joint venture, vehicles, startups, yuan, immobility, edexcel economics, income elasticity of demand, redundancy, tata, walmart, relative poverty, youth unemployment, accelerator, tickets, coal, cash, pensions, edmund conway, diesel, base rate, russia, marginal cost, external shocks, movies, liquidity trap, contestable market, libor, stephanie flanders, fixed costs, comparative advantage, allocative efficiency, training, satisficing, hot money, rory cellan-jones, status races, healthcare, deleveraging, congestion, price mechanism, social entrepreneur, apprenticeships, hyperinflation, economic efficiency, migration, veblen goods, credit, evan davis, automatic stabilisers, age structure, cyclical, king of shaves, monopoly power, financial times, reserve currency, ryanair, wheat, ucas, carbon tax, positional goods, drugs, aldi, scotland, ebea, stimulus, deindustrialisation, chris coleridge, yahoo, organic growth, barclays, equity, richard thaler, pay cuts, liberalisation, royal mail, diseconomies of scale, tax burden, bonds, savings ratio, will king, pension, demography, structural, gillette, logging, job losses, ocr, nhs, house prices, cross elasticity, brics, redistribution, biofuel, nelson thornes, schumpeter, slump, markets, footfall, british airways, paul krugman, income distribution, price capping, green revolution, logic of life, ft, contraction, enterprise, the economist, eastern europe, general motors, natural monopoly, health, enlargement, producer welfare, economic welfare, asda, supply-side, research, o2, deforestation, landfill, social costs, long tail, jim o'neill, diane coyle, economax, energy, podcast, share prices, tariffs, external shock, profit margin, ftse, philip allan, hedge fund, students, fiscal drag, green shoots, buy to let, elasticity of supply, disincentives, ben bernanke, market power, retailing, trend growth, resources, declan curry, nokia, undercover economist, hysteresis, chris anderson, bric economies, dynamic efficiency, price fixing, fiscal policy, winners curse, zimbabwe, hamish mcrae, toyota, market structure, global business, john kay, compound interest, contestable markets, frictional, hedging, claimant count, repossession, royal economic society, sustainability, public good, law of unintended consequences, probability, sustainable growth, cambridge, robert skidelsky, vertical integration, economics teacher inset, rentokil, price regulation, business cycle, fairtrade, freemium, yields, national institute, nairu, costa, nobel prize, robert shiller, market, gender pay gap,
All tags


ECONOMICS TEACHER RESOURCE NEWSLETTER

Join over 4,000 other Economics Teachers in the UK and around the world who receive the tutor2u Economics Resource Email newsletter. Get special offers, first news of latest resources, teaching ideas, conferences and workshops.

*  Your Email Address:
*  Preferred Format:
    AS/A2 Economics Board:
    GCSE Economics Board:
*  Country:
    Full Name:
    Job / Position:
    Postcode:
    School / College:
    Town / City:
*  Enter the security code shown:



Recent Threads on the Economics Teacher Discussion Forums:
Posts in: General Economics Teaching

Shifts in the Labour Market
Good hotel in London for school trip
Competitive Markets
Diminishing Returns
Complementary goods - HELP Please!
URgent Help Needed
Equilibrium concept
The price of life
Extended Project Qualification
Economics course structure






Login to the tutor2u Moodle VLE

Get a daily email update of new resources on the Economics Blog

Discussion forums for Economics teachers

Follow tutor2u on Twitter

 Jim  | Geoff  | Others

Latest entries

Categories

Monthly Archives

Syndicate