Market Failure: A Failed Paradigm (web publication)
Unilateral liberalisation, not trade negotations, is the key to free trade
Health experts have lost confidence in a centrally planned health service
A short critique of the concept of 'market failure'
Professor Booth argues that governments are not perfect and generally do not possess adequate knowledge to correct market failure. They also suffer from ‘government failure’, as policy may be influenced by the special interests of politicians, bureaucrats and lobby groups.
2008, Discussion Paper 20
For more on government failure and public choice theory, see The Vote Motive by Gordon Tullock.