Two examples of government failure
Here are two examples of government failure - one an ill-judged intervention in the housing market. The other criticism that a major international organization has manipulated the definition of a pandemic and spread unnecessary fear about the risks associated with summer flu.
The new coalition government has moved swiftly to abolish Home Information Packs (HIPs) from the UK property market. Designed as a way of providing would-be buyers with more detailed information about properties for sale, they have proved to be hugely expensive, bureaucratic and largely irrelevant. A classic case of an intervention with good intentions but one that served merely to make the business of buying and selling a house even more time-consuming and expensive. More here
Secondly, questions are being raised over the World Health Organisation’s handling of the H1N1 swine flu pandemic last year and this. To what extent has the WHO succumbed to regulatory capture - being unduly influenced by the powerful pharmaceutical industry lobby.
“The lack of transparency in its decision making process, together with the WHO’s advice to countries to begin widespread vaccination against swine flu, has led some observers to suspect undue influence from the pharmaceutical industry”
This exam coaching and revision workshop is designed to support A2 Economics students in the final phase of their preparation for exams in June 2015. The workshop combines exam technique advice with coverage of our selection of core business economics (micro) and macroeconomics topics.