IMPERFECT MARKETS: THEORY AND POLICY IMPLICATIONS FROM AN ALTERNATIVE NEOCLASSICAL PERSPECTIVE
The event explores an interdisciplinary area at the boundary between political economy, public policy and governance theory. The lecture -followed by a dialogue- elaborates the notion that the market process renders complete what is incomplete in mainstream economics. From the alternative standpoint advanced by the author, the question of public policy is not whether or not a deus ex machina of government intervention must save imperfect markets from failure, in comparison to a perfect standard. Rather, the question becomes whether public policy has set the market process up for failure, specifically by undermining the process by which markets tend to become more complete, or “perfect.” The applied level implications of these insights are explored with a special focus on public policies and economic policies relevant for current circumstances.
Rosolino Candela (Ph.D., Economics, George Mason University, and M.A. in Economics, Fordham University) is the Director of Academic and Student Programs the F.A. Hayek Program at George Mason University where he teaches in the Economics Department. He was a Lecturer of Economics at Brown University and Universidad Francisco Marroquín.
The seminar is open to the public.
The event will take place at:
Sala de Consiliu, Facultatea de Sociologie, Str. Schitu Magureanu 9 sector 5, Bucuresti
May 25, starting at 17:00.