Journal of Economic Literature
Book Reviews
2026-08-28
W. Kip Viscusi of Vanderbilt University reviews “Government Failure versus Market Failure: Microeconomics Policy Research and Government Performance” by Clifford Winston,. The EconLit Abstract of the reviewed work begins “Explores the effectiveness of different types of policy interventions and how economists can help improve public policy. Discusses the methodological perspective; market power--antitrust policy and economic regulation; social regulation--imperfect information and externalities; public production; policies to correct market failures--synthesis and assessment; market failure and social goals policies--common failures and conflicts; policy recommendations motivated by policymakers' learning; and microeconomics policy research and the policy community. Winston is Senior Fellow in Economic Studies at the Brookings Institution and Senior Fellow at the AEI-Brookings Joint Center. Index.”