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Author(s): Charles L. Schultze
Publisher: Brookings Institution
Year: 1977

Language: English
Pages: viii, 93 p. ;
City: Washington

Foreword (vii)
I (1)
II (16)
III (28)
The Causes of Market Failure (29)
Transaction Costs (32)
Uncertainty and Information Costs (35)
The "Free Rider" Problem (42)
Market Failure in a Federal System of Government (43)
Public Failures in Dealing with Market Failures (46)
Regulation (46)
Capital Grants (57)
Federal Grant Programs (61)
Failure to Consider Incentive Problems (63)
A Final Note (65)
IV (66)
The Inseparability of Efficiency and Equity (67)
"Do No Direct Harm" (70)
Rights and Duties versus Incentives (72)
The Mystery of the Market (76)
The Short Run versus the Long Run (78)
Sharp Corners versus Smooth Curves (80)
The Creation of Markets (82)
V (84)
Index (91)