Provide example of Gov’t failure and what voters, govt or organizations can do t

Question

Provide example of Gov’t failure and what voters, govt or organizations can do to prevent or limit future failures (if anything).

Remember, your original post should be at least 200 words and you should respond to two others on two different days with a minimum of 100 words. Your response should include the impact on the economy as a whole or to businesses, government or consumers.

Your entries must include references for content. Use APA guidelines. Responding to another student with I think or I believe statements should be followed up with supporting information and necessary references. Use of economic terms and text is highly encouraged for earning higher scores

Explanation / Answer

Government failure can be described as a situation in which government intervention is not able to achieve desirable outcome and efficient allocation of resources.

Example-when government provides subsidy to partcular firm, then other firms in the same industry face barriers to entry in the industry, and market condition becomes inefficient This creates the problem of moral hazard, and the market fails.

The voters should pressurise the government to ensure more transparency to the syste, so that some rich handful lobbyist should not take any undue advantages.

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