Podcast
Questions and Answers
Why does the mere existence of 'market failures' not imply that government intervention is always desirable?
Why does the mere existence of 'market failures' not imply that government intervention is always desirable?
Why do relatively small and homogeneous groups have a disproportionate power to influence government decisions?
Why do relatively small and homogeneous groups have a disproportionate power to influence government decisions?
What is a risk associated with policy-makers seeking to maximize their own welfare instead of social welfare?
What is a risk associated with policy-makers seeking to maximize their own welfare instead of social welfare?
How do pressure groups or lobbies differ from the broader interests of society?
How do pressure groups or lobbies differ from the broader interests of society?
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What may be a consequence of the activities of powerful 'pressure groups' or lobbies on government intervention?
What may be a consequence of the activities of powerful 'pressure groups' or lobbies on government intervention?
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What issue is compounded by the ability of small and homogeneous groups to influence government decisions?
What issue is compounded by the ability of small and homogeneous groups to influence government decisions?
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What is the role of institutions in the functioning of markets?
What is the role of institutions in the functioning of markets?
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Why might powerful social groups seek to block institutional change?
Why might powerful social groups seek to block institutional change?
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Why does the theory of collective action suggest that groups may not always act in their self-interest?
Why does the theory of collective action suggest that groups may not always act in their self-interest?
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In what type of groups may voluntary individual action be more common according to the text?
In what type of groups may voluntary individual action be more common according to the text?
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Why does collective action often cease before reaching its optimal level for group members?
Why does collective action often cease before reaching its optimal level for group members?
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'Privileged' groups, as denoted in the text, are characterized by:
'Privileged' groups, as denoted in the text, are characterized by:
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