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The market failure ideology of our time
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![Page 1: The market failure ideology of our time](https://reader038.fdocuments.in/reader038/viewer/2022100500/548b19a4b47959ec0c8b603c/html5/thumbnails/1.jpg)
The market failure ideology Björn Hasselgren, PhD
GPMS 2013 Gothenburg November 20, 2014
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Standard model of public and private goods
Market failure?
Market failure?
Government
failure?
Government
failure?
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The rise of markets and the ”tax state”
(Schumpeter, 1918)
Autocracies
Govern-
ment
Markets
Study
object
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Private and public squares
(Wagner, 1997/2007)
- Private ownership - Collective ownership
- Voluntary - Coercive
- User financing - Tax financing
- Agreement - Regulation
Private
square
Public square
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How do we perceive the society?
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The entangled reality
(Wagner)
Private
square
Public square
Cooperation and polycentrism is the normal pattern
What happens in-between the dichotomy’s categories is
important and should be better understood
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Self-sustaining process of government
interventionism – a ‘market failure stance’
Large scale systems, distributive policies
and/or perceived monopoly tendencies
Regulation/
Nationalization
MC-pricing or tax financing
Government subsidies and high
taxes = high share of public servants in the
electorate
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Market failure talk is persistent - why?
- High taxes a sign of market failure ideology
- Market failure talk gives a simple model for analysis
- Market failure ideology is self sustaining
- Interest groups protect and support market failure ideology
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What to do?
- Analyze and understand the presence and origin of market
failure ideology
- Better understanding of the entangled reality and the
public-private cooperation is important
- Make a distinction between politics and production of
services and good
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Björn Hasselgren, PhD
KTH Royal Institute of Technology
+46-70-762 33 16
www.kth.se/blogs/hasselgren
@HasselgrenB