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The Limits of the Market – The Pendulum Between Government and Market - Oxford Scholarship Online
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The Limits of the Market: The Pendulum Between Government and Market

Paul De Grauwe


The old discussion about ‘Market or State’ is obsolete. There will always have to be a mix of market and state. The only relevant question is what that mix should look like. How far do we have to let the market go its own way in order to create as much welfare possible for everyone? What is the responsibility of the government in creating welfare? These are difficult questions. But they are also the only interesting questions. That is why they are analysed in this book. The desired mix of market and state is anything but easy to bring about. It is a difficult and sometimes destructive process ... More

Keywords: capitalism, markets, governments, externalities, environment, inequality, financial crisis, global warming

Bibliographic Information

Print publication date: 2017 Print ISBN-13: 9780198784289
Published to Oxford Scholarship Online: January 2017 DOI:10.1093/acprof:oso/9780198784289.001.0001


Affiliations are at time of print publication.

Paul De Grauwe, author
Professor, London School of Economics