Market Failure & Development.

I.B. ECONOMICS.

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.

 

Corruption & Development

I.B. ECONOMICS.

An educational podcast 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).

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 the government in question is corrupt? Does a corrupt government, when it intervenes in markets, hinder, or help the situation?

The following video discusses corruption, its causes, its effects, possible solutions to the problem, and the government’s role in the development process.