Market Failure & Development.


The second educational podcast in a series of three that looks at the  Section 4 topic of Development, in particular at the question of ‘the balance between markets and government intervention’  (Section 4.8).

Click here to see the first in the series.

Should governments intervene a lot in markets and in that way boost or accelerate development? Or is it better for them to leave markets alone and take a ‘stand off approach’?

What happens if, as is often argued, market failure in poor countries is much greater than in rich countries? Should governments intervene more because of this?

This podcast explores the issues of why market failure is higher, and whether or not the government should therefore intervene in markets because of this.


Author: Mark

I was born in a developing country in Africa (Malawi), and have spent over 15 years living and working outside the UK as a teacher in international schools. I currently live and work in Brazil, the land of bright sunshine, amazing tropical beaches, dazzling football, eye-wateringly strong caipirinhas, and the sensual rhythm of samba.