Boratav, KorkutKayıran, Şebnem2022-02-242022-02-241996http://hdl.handle.net/20.500.12575/77561The aim of this study is to discuss and evaluate the debate between the market and the state in the economic literature. In neoclassical political economy, there exist a dichotomy between market and state. Accordingly, they are always perceived as alternatives to each other. This dichotomy finds its reflections in market failure and government failure arguments. For this reason, in this study, market failure and government failure arguments has been explored depending on their assumptions, theoretical frameworks and conclusions. The main conclusion to be drawn from these arguments is that, neoclassical political economy ignores the role and importance of the private sector. If private sector enters into the analysis as a power, the conclusions will be dramatically changed. Hence, the relationship between market, state and private sector must be taken into account in discussing the failure of the market and the state. M. YUKSEKWREM niRULJ QOKDMANTASYOH IBMtrSuccess ; BaşarısızlıkmasterThesis