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The article discusses the Cato Book Forum titled "Why Government Fails So Often-and How It Can Do Bette," hosted by the Cato Institute in Washington in March 2014. Topics discussed include reasons behind the failure of public policies such as unprofessional conduct and federal bureaucracy, and neoclassical economics. The forum featured Peter Schuck, a Simeon E. Baldwin Professor Emeritus at Yale Law School, and Arnold Kling, an adjunct scholar at the Cato Institute.

The article offers information on fiscal policy in the U.S. It states that fiscal policy theories started with a work published during the Great Depression by John Maynard Keynes, a British economist, which is often referred to as Keynesian. Some commentators contrast Keynesian economics with neoclassical economics, which theorizes that output and prices adjust to forces of supply and demand. A multiplier measures that magnitude of the effects of fiscal policy.