The importance of this question is purposely for research question relevant to Pacific Island Countries.
Also this research is inline with my academic on Public Sector reforms and private Sector.
Therefore, I would appreciate some feedback on this particular research question as more appropriate.
Regards,
Alfred Manele
USP Student
Government roles in market can be justified when there exist market failures (e.g. monopoly, information asymmetry, public good, etc). Government can use various tools, such as taxes, expenditures, regulations, standards, or establishing organizations or even state owned enterprises.
However, the government roles may induce other failures: the government failures, e.g. inefficiency, corruption. In the case of government intervention in an industry, a quote from Mr. Chatib Basri may indicate it: Governments may not be very good at picking winners, but losers are good at picking governments
Good answer above.
You might like to think about why we need policy. Market failure as said above. Also public health, defence, infrastructure, everything that individuals can't do on their own.
Bad policy can have unintended consequences. The health service in the UK was implemented with the belief that people would become healthier, and need the healthcare less and less. That did not happen. That doesn't make it a bad policy, but it does indicate the true of problem in this regard.
Christopher NOCK
Most of the time public policy cannot satisfy all stakeholders. The decision taken by the US Government to open its automobile market was considered as a good policy by the automobile consumer. In contrast, this decision was deemed as bad policy by the domestic automobile industry. Thus, this decision might be good or bad depend on its impact on different stakeholders.
Some economists believe that a certain policy is regarded as good when the positive impact exceeds the negative one. Some others argue that a particular decision should be taken in favor of the majority. Bearing in mind the earlier example, we clearly understand that the Government took that decision in favor of the consumers who were certainly greater than the workers of the automobile industry.
However, we see today that the Trump Administration turns back that policy. The appropriate policy taken earlier is deemed as an unacceptable policy today. Along these lines, a particular policy might be good or bad is also determined by vested interests.
Thank you for those who really contribute to answer my research question. It will help me to identify important elements with regards to Government Public Policy.
Appreciate your invaluable contribution and comments.
Regards.
Public policy is what the government in power says it is !
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