phorntita
Member
- Joined
- Feb 21, 2009
- Member Type
- Academic
- Native Language
- Thai
- Home Country
- Thailand
- Current Location
- Thailand
<< Joseph Stiglitz discusses the role of the government or the public sector in a "mixed economy". In a mixed economy, many if not most economic activities are undertaken by individual actors and private firms, but government plays an important role, either by its own economic enterprises or by influencing private activity by fiscal,monetary,and regulatory policies. In a primarily capitalist system, the usual rationale for government intervention in economic affairs is to correct "market failures." But the public sector can suffer from "goverment failures" as well . What criteria should be used to determine the relative weight of government or the market in the allocation of scarce resources ? According to these criteria, what would be the advantages and disadvantages of each approach? >>
When the word "market" there referred to "private sector"
**Could anyone tell me whether I can call "private sector market" for the word "market" there?
Phorntita
When the word "market" there referred to "private sector"
**Could anyone tell me whether I can call "private sector market" for the word "market" there?
Phorntita
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