The textbook justification for government intervention is that where a market failure exists, government is supposed to step in with policies (taxes, subsidies, regulation, or public provision) that make some people better off without making anyone worse off, thereby expanding the pie.

factualpending

Speaker

Clifford Winston

Evidence Quote

that's the efficiency objective of government policy

Source

Clifford Winston on Market Failure and Government Failure 12/28/2009EconTalk
Created: 6/15/2026, 9:37:54 AM

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