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Government, Public Policy, and Sustainable Business

3.3 Market Failures and the Role of Public Policy

Exercises

  1. Take the position that the most appropriate role for government is to limit business taxes and regulations. What is the strongest case for limited government? Use as a resource.
  2. Take the position that government intervention in a private market economy can be beneficial to achieve sustainability objectives. Why are governmental environmental policies and regulations justified?
  3. What is a market failure? Give an example of a market failure. How can government policy help overcome market failures?
  4. Why are property rights critical to a market economy? How do resources that are not owned by anyone get used? Do they always get used in the most economically valuable way? Does your local public park get used in a way that optimizes its long-term economic value?

Callback before_footer in local_aigrade component should be migrated to new hook callback for core\hook\output\before_footer_html_generation
  • line 7225 of /lib/moodlelib.php: call to debugging()
  • line 7292 of /lib/moodlelib.php: call to {closure}()
  • line 71 of /lib/classes/hook/output/before_footer_html_generation.php: call to get_plugins_with_function()
  • line 987 of /lib/classes/output/core_renderer.php: call to core\hook\output\before_footer_html_generation->process_legacy_callbacks()
  • line 97 of /mod/book/tool/print/index.php: call to core\output\core_renderer->footer()