Chapter 1 Ten Principles -- Government

by Elson Blunt on Jun 17, 2014

Government has a role in improving market outcomes, first and foremost by preserving property rights and then by creating policy to improve efficiency and equality (a competing tradeoff.) Efficiency is improved by correcting market failures (excessive market power and externalities) and equality by redistributing from rich to poor. Ecological Economists also advocate setting an appropriate scale for natural resources.

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