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Examples of government failure include regulatory capture and regulatory arbitrage. Government failure may arise because of unanticipated consequences of a government intervention, or because an inefficient outcome is more politically feasible than a Pareto improvement to it. Government failure can be on both the demand side and the supply side.
A budget crisis is an informal name for a situation in which the legislative and the executive in a presidential system deadlock and are unable to pass a budget. In presidential systems, the legislature has the power to pass a budget, but the executive often has a veto in which there are insufficient votes in the legislature to override.
A failed state is a state that has lost its ability to fulfill fundamental security and development functions, lacking effective control over its territory and borders. . Common characteristics of a failed state include a government incapable of tax collection, law enforcement, security assurance, territorial control, political or civil office staffing, and infrastructure maintenan
Because of the size of the government workforce, the effects of a shutdown can be seen in macroeconomic data. During the 2013 shutdown, for example, 800,000 employees were locked out, payment was delayed to 1.3 million workers, [14] confidence in the job market decreased for a month, [15] [16] and GDP growth slowed 0.1–0.2%. [14]
Ronald Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981. "Starve the beast" is a political strategy employed by American conservatives to limit government spending [1] [2] [3] by cutting taxes, to deprive the federal government of revenue in a deliberate effort to force it to reduce spending.
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth.
State collapse is a sudden dissolution of a sovereign state. [1] It is often used to describe extreme situations in which state institutions dissolve rapidly. [2] [1]When a new regime moves in, often led by the military, civil society typically fails to rally around the central government, and societal actors fend for themselves at the local level. [1]
Governance failure may also refer to what can also be described as policy failures − the effectiveness, efficiency, and resilience of specific policies. [1] A frequently mentioned example of a policy failure is the War on Drugs .