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Market corrections not government interventionsa path to improve the US economy /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Market corrections not government interventionsby Clifford Winston.
Reminder of title:	a path to improve the US economy /
Author:	Winston, Clifford.
Published:	Cham :Springer Nature Switzerland :2025.
Description:	xxv, 204 p. :ill., digital ;24 cm.
Contained By:	Springer Nature eBook
Subject:	Capital marketUnited States.
Subject:	United States
Online resource:	https://doi.org/10.1007/978-3-031-92815-4
ISBN:	9783031928154$q(electronic bk.)

Market corrections not government interventionsa path to improve the US economy /
Winston, Clifford.

Market corrections not government interventionsa path to improve the US economy /[electronic resource] :by Clifford Winston. - Cham :Springer Nature Switzerland :2025. - xxv, 204 p. :ill., digital ;24 cm.

Chapter 1. Introduction -- Part I. Government Failure -- Chapter 2. Defining and Measuring Government Failure -- Chapter 3. Government Policies, Institutions, and Benchmarks for Assessing Government Performance -- Chapter 4. Empirical Evidence of Government Failures -- Chapter 5. The Failure to Explain Government Failure -- Part II. Market Corrections -- Chapter 6. Defining and Illustrating Market Corrections -- Chapter 7. Empirical Evidence of Market Corrections to Solve Economic and Social Goals -- Chapter 8. An Assessment of and Ongoing Challenges for Market Corrections -- Part III. Implications for Economists and Policymakers -- Chapter 9. Implications for Economists -- Chapter 10. Implications for Public and Private Sector Policymakers.

The choice of whether to recommend a market solution or a government intervention to address an economic or social problem is the eternal issue of public policy analysis. In this book, Clifford Winston examines the extensiveness and persistence of government failures in the US economy and the potential for market corrections to address those failures. Winston provides contemporary empirical evidence that strongly questions the effectiveness of government interventions, and he explores whether markets can self-correct to solve economic and social problems more efficiently. Government failures are defined and categorized, and the extensive evidence on government failures is synthesized and assessed. Theoretical explanations of government failure are evaluated and found to lack the ability to guide efficient policy reforms. Finally, empirical evidence is presented to show that, in contrast to government failures, markets have often corrected their failures. Winston concludes that when policymakers or academics are considering the efficacy of a market solution or a government intervention to address an economic or social problem, they should be more cognizant of the potential for persistent government failure and should account for markets' ability to self-correct. Thus, Winston envisions a new perspective where market corrections, not government interventions, offer a path for improving the US economy. Clifford Winston is a senior fellow in the economic studies program at the Brookings Institution. He is the author or editor of several books, including Reforming Occupational Licensing in the US.

ISBN: 9783031928154$q(electronic bk.)

Standard No.: 10.1007/978-3-031-92815-4doiSubjects--Topical Terms:

243217
Capital market
--United States.Subjects--Geographical Terms:

236377
United States

LC Class. No.: HG4910

Dewey Class. No.: 338.973

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505 0 $a Chapter 1. Introduction -- Part I. Government Failure -- Chapter 2. Defining and Measuring Government Failure -- Chapter 3. Government Policies, Institutions, and Benchmarks for Assessing Government Performance -- Chapter 4. Empirical Evidence of Government Failures -- Chapter 5. The Failure to Explain Government Failure -- Part II. Market Corrections -- Chapter 6. Defining and Illustrating Market Corrections -- Chapter 7. Empirical Evidence of Market Corrections to Solve Economic and Social Goals -- Chapter 8. An Assessment of and Ongoing Challenges for Market Corrections -- Part III. Implications for Economists and Policymakers -- Chapter 9. Implications for Economists -- Chapter 10. Implications for Public and Private Sector Policymakers.
520 $a The choice of whether to recommend a market solution or a government intervention to address an economic or social problem is the eternal issue of public policy analysis. In this book, Clifford Winston examines the extensiveness and persistence of government failures in the US economy and the potential for market corrections to address those failures. Winston provides contemporary empirical evidence that strongly questions the effectiveness of government interventions, and he explores whether markets can self-correct to solve economic and social problems more efficiently. Government failures are defined and categorized, and the extensive evidence on government failures is synthesized and assessed. Theoretical explanations of government failure are evaluated and found to lack the ability to guide efficient policy reforms. Finally, empirical evidence is presented to show that, in contrast to government failures, markets have often corrected their failures. Winston concludes that when policymakers or academics are considering the efficacy of a market solution or a government intervention to address an economic or social problem, they should be more cognizant of the potential for persistent government failure and should account for markets' ability to self-correct. Thus, Winston envisions a new perspective where market corrections, not government interventions, offer a path for improving the US economy. Clifford Winston is a senior fellow in the economic studies program at the Brookings Institution. He is the author or editor of several books, including Reforming Occupational Licensing in the US.
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