Market Failure, Public Value Failure

When the two failures occur simulatanously, you have a serious problem.  See What you don’t know about a drug can hurt you in the WSJ.
“What’s happening in oncology is happening in all other fields of medicine,” says study co-author health economist Scott Ramsey at the Fred Hutchinson Cancer Research Center in Seattle, who checked more [...]

Cybersecurity – Market Failure or Public Values Failure or both?

The Center for Strategic and International Studies is delivering a report, “Securing CyberSpace for the 44th President,” which notes, among other things, :
“We believe that cyberspace cannot be secured without regulation,”
The report, which offers guidance to the Obama administration, is a strong indictment of government and private industry efforts to secure cyberspace to date. “The [...]

Recession – Market Failure?

a search using the terms “is recession market failure” referred someone to this site.
It is a question to study — and to discuss whether public values failure contributed to the market failure.

Public Values – Legislation

A letter to the editor in the AJC (which does not support permalinks — so this link will die) raises some issues about a law in Georgia requiring a “comprehensive character education program” (see O.C.G.A. § 20-2-145).
(a) The State Board of Education shall develop by the start of the 1997-1998 school year a comprehensive character education [...]

Market Failure – Public Value Failure : An Intersection

When you have a program, such as the one described in this NYT article on private Medicare insurance, that relies on the market to solve a public value problem, and that program fails — you end up in the total failure quadrant.
(need a picture here)
Private health insurance plans, which serve nearly a fourth of all [...]

Gold(man) Standard – Market Failure

The big 5 investement bankers asked for a rule change at the SEC — that this article said created a situation where the information that might have predicted the current crisis became invisible.
The man representing Goldman Sachs at the table, then became Treasury Secretary Paulson.
Markets do not operate well when information is obscured.
An example of [...]