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Essay / Exploring the economic impacts of military spending
Government failure in the news; give me some examples. Please list the failure, what they are trying to do to fix it and is it working? Government failure occurs when the government attempts to help a market with a failing economy, but in turn causes even more harm to the market. First, a market failure that does not produce positive outcomes for society must occur for the government to intervene. There are two failures of government: ; Heparin contamination and sleeping air traffic controllers. The FDA is responsible for overseeing the quality and safety of the drug. They were supposed to ensure that medicines could be brought to market safely, especially imported ones. A deadly bacteria has contaminated heparin and killed people. Currently, the heparin contamination incident is still under investigation and Congress is requesting documents explaining why it took so long for the FDA to remove it from the market. Air traffic controllers were found to often sleep or make near-catastrophic errors due to work overload. The Federal Aviation Administration has failed to properly maintain an important public function. The measure that was taken was that air traffic controllers cannot be alone in