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Conclusion: Policy Implications

In: Endogenous Growth, Market Failures and Economic Policy

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  • Martin Zagler

    (Vienna University of Economics & BA)

Abstract

Much has been said about the different engines of economic growth. The following concluding remarks are aimed to clarify the issue and to elaborate the practical application of all the previous theorizing. This Conclusion explains why there is a need for economic policy or why the market is not a sufficient instrument to ensure allocative efficiency — just as it never helped to secure distributive justice, a point which is discussed in section 9.3.

Suggested Citation

  • Martin Zagler, 1999. "Conclusion: Policy Implications," Palgrave Macmillan Books, in: Endogenous Growth, Market Failures and Economic Policy, chapter 9, pages 158-167, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-27129-0_9
    DOI: 10.1007/978-1-349-27129-0_9
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