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| Author: | Yuan, Kuisun |
| Title: | Information society poses challengy to modern economics /Information Society (original in Chinese) |
| Journal: | Economist (c)
1998 : 4, p.10-19 |
| Index terms: | INFORMATION ECONOMIC THEORY GOVERNMENT |
| Language: | chn |
| Abstract: | Modern economical studies on the economic function of the government are based basically on the controversies over whether market fails. Such studies neither have proved positively the necessity of the government's intervention of economy nor provided satisfying guidance for the formulation of the government's economic policy. This paper attempts to prove that the analyzing framework of modern economics is not at all suitable for dealing with the issues including the government's economic function. It approaches initially the issues like the necessity of the government's intervention, the basic nature of the government's economic policy and on that basis discloses the drawbacks of modern economics framework, which are embodies from "market failure" and "government failure". |
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