- Cafe Hayek - http://cafehayek.com -
Quotation of the Day…
Posted By Don Boudreaux On January 27, 2012 @ 8:22 am In Economics,Myths and Fallacies,Other People's Money,Seen and Unseen | Comments Disabled
… is from pages 8-9 of Mark Pennington’s 2011 book Robust Political Economy :
Moreover, insofar as market failure theorists are right to focus on ‘incentive compatibility’, they fail to appy this analysis to their favoured institutional alternatives. A consistent analysis of collective action and asymmetric information problems reveals that these are often more pronounced in a public sector environment than they are in a regime of ‘imperfect markets’.
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2012/01/quotation-of-the-day-189.html
URLs in this post:
 Robust Political Economy: http://www.amazon.com/Robust-Political-Economy-Classical-Liberalism/dp/1849807655/ref=sr_1_1?s=books&ie=UTF8&qid=1315652011&sr=1-1
 Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2012%2F01%2Fquotation-of-the-day-189.html&Title=Quotation%20of%20the%20Day...
 Tweet: https://twitter.com/share
Copyright © 2011 CafeHayek.com. All rights reserved.