Assertions of Market Failure

Assertions of market failure are usually based on Paul Samuelson's theory of public goods and externalities.

About the Book

This book both develops that theory and challenges the conclusion of many economists and policy-makers that market failures cannot be corrected by market forces.

Contents and Case Studies

The volume includes major case studies of private provision of public goods. Among the goods considered are lighthouse services, education, municipal services, and environmental conservation.