Dienstag, 10. Januar 2017

Nachweis von Marktversagen

Noah Smith schreibt in seiner Bloomberg-Kolumne über einen wichtigen Gedanken zum Thema "Wer muss Marktversagen "nachweisen", um Regulierung zu begründen?".

Er schreibt:
"Lots of economic policy debates end up going like this: First, one economist or policy wonk will propose a government intervention -- a minimum wage increase, a tax on sugar or subsidies for solar electricity. Another person, usually someone of a more free-market bent, will demand to know exactly which market failure justifies the intervention. A market failure, in the parlance of economics, means a situation in which free markets produce wasteful outcomes. If the advocate can’t produce a theory justifying the policy, the critic claims triumph. If the advocate can find a theory that seems to support the intervention, the critic will typically then criticize the assumptions of the theory. Since most econ theories are highly stylized and have questionable ability to fit the facts, this means that free marketers claim victory quite a lot."
Und warum ist das so?
"The demand to demonstrate a market failure isn’t fair, because it puts too much burden of proof on advocates of intervention. [Why?]

First, many people assumes that free markets are the natural state of things. [...]

The second sociological quirk behind the show-me-the-market-failure argument is the econ profession’s lingering fetish for theory. There’s a shift underway from what labor economist David Card calls mathematical philosophy to a more data-focused discipline, but theory is still far more privileged and prized in economics than in many natural sciences. [...]"
Noahs Schlussfolgerung:
"So I propose we minimize our use of the show-me-the-market-failure argument. Sometimes there are policies that people have tried in the past, which seem to work even though it’s hard to tell exactly why. Public education is a great example. It seems to make economies more prosperous, and most economists support it, but no one can point to just why the free market doesn’t educate enough people on its own. Road-building is another -- there are essentially no countries with mostly private high-quality road systems, and economists struggle to explain why.

We know these government interventions work; figuring out why they work is a task for the future."

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