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本文主要从Public Sector Intervention分析，由英国作业之英语论文代写策划组提供。

论文题目：explain the rationale for public sector intervention in the economy
论文语言：英语论文 English
论文专业：经济金融
字数：1500
学校国家：英国
是否有数据处理要求：否
您的学校：keele
论文用于：BA essay 本科课程作业

The Rationale for Public Sector Intervention in the Economy

Introduction
Related theories and the role of public sector
Reasons for government intervention in the economy: market failure
Monopoly market failure
Externality failure
Public goods failure
Failure in fair distribution of social wealth
Macroscopic failure
Economic effectiveness of public sector intervention
Conclusion
References

The Rationale for Public Sector Intervention in the Economy

Introduction
In a fully competitive market, individuals can reach the effective resource allocation or Pareto optimum simply by seeking to maximize their own interests. But in real life, https://www.51lunwen.org/dxygassignment/2012/0615/2118078959.html such an ideal market does not exist, and therefore the optimal allocation of resources cannot be achieved. So an external power in needed to interfere with and compensate for market imperfections. As the United States economist Stiglitz pointed out “market failures can occur, because no one is responsible for the market. The resource allocation decision is made by the tens of thousands of different businesses, resulting in a duplicate production and inefficiencies ". This essay will firstly present the related theories and explain the role of public sectors. Subsequently, it will analyse the reasons for government intervention. After that, it will look at the economic effectiveness of public sector intervention. In the last part, it will conclude.

References
Acemoglu, D., 2002. Technical Change, Inequality, and the Labour Market, Journal of Economic Literature, vol.40, pp. 7-72.
Ben R. Craig, William E. Jackson and James B. Thomson, 2006. Credit market failure intervention: https://www.51lunwen.org/Economics/ Do government sponsored small business credit programs enrich poorer areas? Small Business Economics, 30(4), pp. 345-360.
Bastian Breitenfellner, Niklas Wagner, 2010. Government intervention in response to the subprime financial crisis: The good into the pot, the bad into the crop, International Review of Financial Analysis, 19(4), pp. 289-297.
David Anthoff, Robert Hahn, 2010. Government failure and market failure: On the inefficiency of environmental and energy policy, Oxford Review of Economic Policy, 26(2), pp. 197-224.
Grossman, P., 2009. U.S. Energy Policy and the Presumption of Market Failure, Cato Journal, 29(2), pp. 295-317.