微观经济管理学与财务知识分析规范(ppt 63页).pptVIP

Government Policy and Market Failures Chapter 15 Laugher Curve Q. How many economists does it take to screw in a light bulb? A. Eight. One to screw it in and seven to hold everything else constant. Introduction Should the government intervene in the market? The framework presented might be called the invisible hand framework. Invisible hand framework – perfectly competitive lead individuals to make voluntary choices that are in society’s interest. Market Failures A market failure occurs when the invisible hand pushes in such a way that individual decisions do not lead to socially desirable out