Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Government Failure

  • Giuseppe Di VitaEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_215


The analysis begins from the origin of the concept of market failure and continues with an explanation of the reasons why a measure of political economy could worsen market allocation and the level of social welfare. Mention is made of the differences between Europe and the United States regarding the weight of the State in the economy and of the efforts made by research to give a quantitative measure to government failure.

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© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.Department of Economics and BusinessUniversity of CataniaCataniaItaly