In the News
Government failure - green heating plans branded a 'total waste of money'
Graham Watson
9th September 2016
If you want an example of government failure, then I give you: Exhibit A. But what does the term mean?
Government failure occurs when government intervention in a market generates an outcome that is less efficient than the outcome generated by the free market. In other words, the size of the original market failure is less than the size of the market failure after the government has intervened.
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