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Q. Why does government undertake an economic activity?
If ever an activity has large externality or spill over and includes a large number of people, it may be found better that government undertakes it. As David Hume once pointed out, it is easy for two persons to agree/bargain for terms of draining a field affecting them but it would be very difficult for a large number of persons to make the decision on terms of sharing cost of drainage.
WHAT IS THE CONCEPT
3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dol
The most significant area or tool for making a suggestion to a journalist or media is the press release, which is more available these days. One has to put, a press release is a ps
What makes a public opinion poll scientific 1. To what extent do we really think about political issues as individuals, or are we more influenced by our environment -family, t
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State ramsey rule of optimal commodity taxation and the intuition for it
Recent standardized test scores suggest that the Milwaukee Public School system is facing a profound moment of crisis, a reality shared by school districts in many other US cities.
1. If GDP is not a good measure of economic well-being, why then it is always used by the president in his/her STATE OF THE NATION''S ADDRESS?
In economic literature policy instrumentation has usually been discussed from normative point of view. In particular, the analytical apparatus of welfare theory is well equipped t
The essence of a national boundary is separate the ‘self' from the ‘other'. Thus natural boundaries, like all institutions have their own set of internal rules which govern their
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