This paper aims to describe in detail the problem of externalities, moves to discuss Coase’s theorem, and concludes by disproving it.

This paper sets out to define and describe market failures, how government intervention prevents them or minimizes their effects, and the arguments against government intervention.

Elinor Scarbrough’s article, Western European welfare states: The old politics of retrenchment, attempts to rebut Pierson’s argument. She discusses what she thinks is Pierson’s major flaw: his claim that welfare state retrenchment politics cannot be explained at all in terms of original welfare state expansion. Scarbrough argues the opposite instead, claiming that scaling back the welfare state...

Critical Analysis of John Locke’s Theory of Property Rights in Chapter Five of the Second Treatise of Government