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Q. Who permits government whatever it does?
The simple answer can be: people in a democracy and the monarch/dictator in a monarchy/dictatorship. But neither monarchy exists in its original form nor does a dictator/despot/autocrat work without a coterie around. Some people always participate in the decision-making process, deliberate on the issues and implications, and clinch the matter following certain rules given from outside (say, by the constitution) or decided in the process itself, which is itself a decision-making process. How individual preferences get translated in public choice over a public issue is broadly the area of Public Choice.
Case for Improving upon the Market System Unlike the "optimistic followers" of the "classical school" who believed that markets would "natural!yn or "automatically" prod
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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996)
Question: Awards for excellent performance are increasingly employed within the public service in many countries. These will or will not have a financial value. Performance-rel
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