Just as with market failures, there are different kinds of government failures that describe corresponding economic distortions.

The broad base, combined with the low marginal rate, would minimize economic distortions.

They call the timber trade a classic example of the economic distortions between the developed and developing world.

Indeed, if the economic distortions associated with this future tax increase were large enough, it would sink the whole logic of playing now and paying later.

Taken in conjunction with the tax benefits owner occupiers receive (see Chapter 13) it can be argued that this was a major economic distortion.

Less obvious, but equally important factors concern the economic and market distortions which influence the comparative disadvantage of many areas.

This sequence of events gives an interesting illustration of the potential for economic distortions from government incentives.

But the resulting economic distortions are not likely to be large, experts say.

Much of the aid can be better understood when considering the economic distortions caused by the war.

The level of economic distortions cannot be established without further economic analysis.