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Bruno S. Frey and Joseph Stiglitz about government failure and market failure

Author

Listed:
  • Miroslaw Bochenek

    (Nicolaus Copernicus University)

Abstract

J.E. Stiglitz claims that the state should intervene only in cases when it has possibility to reduce market failure. He postulates government and market co-operation, what can result in their reinforcement and effective solutions for social problems. Whereas, B.S. Frey notices that only a powerful nation is able to make rules for an economic game, which enable private markets to operate well.

Suggested Citation

  • Miroslaw Bochenek, 2010. "Bruno S. Frey and Joseph Stiglitz about government failure and market failure," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 6(1), pages 71-86, December.
  • Handle: RePEc:cpn:umkeip:v:6:y:2010:i:1:p:71-86
    DOI: 10.12775/EiP.2010.005
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    More about this item

    Keywords

    market failure; government failure; economic policy; history of economic thought;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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