Dam Shame: It's not easy being government
The Answer Is Transaction Costs
00:00
Understanding Transaction Costs and Government Failure
This chapter explores transaction costs and Pareto optimality, shedding light on the failures that can occur within both market and government systems. Through illustrative examples, it highlights the significance of information and incentives in assessing government effectiveness in mitigating market failures.
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
