FAU Lifelong Learning Society, Jupiter
Mark C. Schug, Ph.D.
 

Economics


Mark C. Schug, Ph.D., is Professor Emeritus at the University of Wisconsin-Milwaukee and President of Mark Schug Consulting. Schug taught for over 36 years at the high school and university levels. He speaks and writes about economics and financial education including topics on American economic history and general economics.

Dr. Schug earned his doctorate from the University of Minnesota. He has received national awards for leadership, service and research in economic education. He received the (WI) Governor’s Financial Literacy Award in 2011.


Most Americans know that markets sometimes fail. Market failures occur when we face “negative externalities.” Air pollution is frequently identified as a negative externality because innocent bystanders — the public — pay the costs associated with air pollution rather than the company doing the polluting. A regulatory role for government may be justified in the case of a negative externality. However, government also fails. It has done so many times in American history. Government failure occurs when the cost of a government program exceeds its benefits. This session will explain government failure by presenting key concepts from a relatively new line of economic analysis called “public choice theory” — a theory you almost certainly never learned in college. This session will address key government failures in American history including the Homestead Act of 1862 and policies of the New Deal in the 1930s. It will conclude with several contemporary examples of recent government failures.

Lecture # S1R3
Register early! There is a $5 charge for registering on the day of a One-Time Lecture or Event.
  Place:Lifelong Learning Complex, Jupiter Campus
  Dates:Thursday, April 3, 2014
  Time:7:00–8:30 p.m.
  Fee:$20/member; $30/non-member