Governments proper role in the market

Discussion in 'Economy' started by midcan5, Mar 5, 2010.

  1. midcan5
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    midcan5 liberal / progressive

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    Interesting article.

    'The Rules' Government’s proper role in the market by Eliot Spitzer

    "What are the parameters of government intervention in the marketplace? What rules should we use in deciding when the government should act, and when it should let the market take its course?

    Has our response to the immediate crisis been successful?

    How might we restore an effective structure for corporate governance? The failures of corporate governance account for much of our economic troubles over the past 30 years. Getting out of the current mess will require addressing these underlying failures."

    Boston Review — Eliot Spitzer: The Rules

    'To sum up, I want to leave you with ten points:'

    " Only government can enforce integrity and transparency in the marketplace; self-regulation is a failure.

    Only government can take necessary steps to overcome market failures, such as negative externalities or monopoly power.

    Only government can act to preserve certain core values in the market, such as prohibitions on discrimination...."
     

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