WP 2023-02. Executive Summary We argue to look at the polity with the very same vista with which modern economics looks at markets, as the polity is nothing but the…
market failure
This is the name of the paper from Bruce Yandle that you can read in the last issue of Cato’s Regulation. In the surrounding flood of new taxes, Bruce Yandle is addressing the question of whether the intention behind them is to correct “market failures” as pollution, obesity, financial speculations and so on, or to simply raise revenue for a deficit-plagued government.