Government Failure

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  • Government actions may work to tax, control, and regulate, but in some instances, action or inaction can lead to a government failure or the deepening of a market failure that requires some form of corrective action. Determining the proper level of government intervention has its challenges, and there are several reasons for government failures. The pursuit of self-interest among politicians and civil servants, for example, can often lead to a misallocation of scarce resources. For example, logistical decisions about road construction, schools, and hospitals may be decided with at least one eye to the political consequences. The pressures of a looming election or the influence exerted by special interest groups can create an environment in which inappropriate government spending and tax decisions are made. This ...

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