Market failure, inequality and redistribution

Autores/as

  • Jean-Marie Dufour McGill University

Palabras clave:

positive economics, normative economics, welfare economics, market, failure, externality, taxation, social choice, public choice

Resumen

We consider the following question: does market failure justify redistribution? We argue that the general answer to this question is no, in the sense that policies for correcting market failures do not aim at producing a "desirable" income distribution. This follows from the fact that, by construction, market failure is a deviation from "efficiency" that does not involve any notion of a desirable distribution of welfare (or income). However, there are special cases where a "corrective measure" involving redistribution can offset a market failure, so this can provide a form of efficiencybased justification for redistribution.

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Publicado

2024-01-12

Cómo citar

Dufour, J.-M. (2024). Market failure, inequality and redistribution. ÉTICA, ECONOMÍA & BIEN COMÚN, 6(1). Recuperado a partir de https://journal.upaep.mx/index.php/EthicsEconomicsandCommonGoods/article/view/161

Número

Vol. 6 Núm. 1 (2008)

Sección

Ensayos

Licencia

Creative Commons License

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