Problem:
Rationales for innovation policy typically pertain to concepts of market failure that are relevant across all countries and circumstances (Dodgson et al., 2011). Government failures underscore the necessity for reforming and adjusting current policies to more effectively reach desired goals. These failures arise when government actions fall short of their intended results or lead to new issues, prompting a reassessment of policy strategies. The necessity for more openness and responsibility on the part of public officials can be demonstrated by governmental follies. For them to make better use of public funds and reduce the risk of such failures in the future, lawmakers need to know what went wrong and why. In summary, governmental failures act as an essential feedback mechanism that guides the formulation and enhancement of public policies, guaranteeing alignment with society objectives and the effective delivery of desired benefits.