Viewpoint by Jaffer Machano
The writer is Global Programme Manager, Municipal Investment Finance, United Nations Capital Development Fund. This article first appeared 18 February in UN Chronicle, a digital magazine of the United Nations, produced by the Department of Global Communications.
NEW YORK (IDN) — The lexicon of sustainable development includes an oft-used term: market failure. The term has been attributed to, and popularized by, a Hungarian-born economist who would eventually serve under United States President Lyndon Johnson before teaching at Harvard University—Francis Michel Bator.