The Market and the State

Abstract

In the first chapter we discussed a number of possible objectives that society might have with respect to allocating scarce resources among its members. In subsequent chapters we saw how market and non-market systems can be used to allocate resources in certain ‘problem’ areas and whether their use can meet the relevant objectives in the area concerned. Throughout, certain key issues emerged repeatedly. Many of the difficulties involved in allocating resources within these areas have strong links with one another; indeed many are simply aspects of the same conceptual problems. It is the purpose of this final chapter to try to isolate and to emphasise these links, and to draw out from the discussion some general lessons about different systems of resource allocation.