What Is Government Failure?
University of Arizona
May 15, 2013
30 Yale Journal on Regulation Online 44 (2013)
Arizona Legal Studies Discussion Paper 13-10
The phrase “government failure” as a term of art originated in the critique of government regulation that emerged in the 1960s. This critique premised that “market failures” were the only legitimate rationale for regulation. Although the phrase is a popular currency in scholarship and politics, people attribute to it different values. As a result, all seem to expect the government to fail, many believe that government inaction cannot constitute a failure, and alleged failures tend to be disputed. This essay seeks to establish a coherent meaning for the term “government failure” and its relatives (e.g., “government breakdown,” “regulatory failure”).
Number of Pages in PDF File: 13
Keywords: government failure, regulatory failure, regulation, market failure
Date posted: February 17, 2013 ; Last revised: June 6, 2013