Market failure, inequality and redistribution

Auteurs

  • Jean-Marie Dufour McGill University

Mots-clés :

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

Résumé

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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Publiée

2024-01-12

Comment citer

Dufour, J.-M. (2024). Market failure, inequality and redistribution. Ethique, Economie Et Biens Communs, 6(1). Consulté à l’adresse https://journal.upaep.mx/index.php/EthicsEconomicsandCommonGoods/article/view/161

Numéro

Vol. 6 No 1 (2008)

Rubrique

Essais

Licence

Creative Commons License

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