Market failure, inequality and redistribution
Data(s) |
15/02/2010
15/02/2010
2008
|
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Resumo |
We consider the following question: does market failure justify redistribution? We argue that the general answer to this question is no, in the sense that policies for correcting market failures do not aim at producing a "desirable" income distribution. This follows from the fact that, by construction, market failure is a deviation from "efficiency" that does not involve any notion of a desirable distribution of welfare (or income). However, there are special cases where a "corrective measure" involving redistribution can offset a market failure, so this can provide a form of efficiency- based justification for redistribution. |
Identificador |
1639-1306 |
Idioma(s) |
en |
Publicador |
Centre de recherche en éthique de l'UdeM (CRÉUM) |
Relação |
Revue Éthique et Économique / Ethics and Economics;Volume 6, Numéro 1 |
Palavras-Chave | #philosophy #ethics #economics #positive economics #normative economics #welfare economics #market failure #externality #taxation #social choice #public choice |
Tipo |
Article |