Tuesday, August 18, 2009

Government and Public Choice

Our founders certainly had a good idea of the things that Government may be more effective at, as indicated in the specifically enumerated powers of A1S8 of the constitution.

There are cases, in general where, government may have a role ( when goods are non rival and nonexclusive- education, national defense). Or when there are external effects, example: you and I engage in voluntary exchange and harm a 3rd party. However, the existence of 'public goods' or 'externalities' alone does not guarantee that government will offer any improvement.

Past posts related to the function of government:

Type I and Type II Errors

Type II Error Bias -the FDA

Type II Error Bias and Hurricane Katrina

The Tragedy of The Commons

Our Commons Our Choice

Public Choice

Public Choice Theory

Voting Paradoxes

The Median Voter Theorem

The Coase Theorem

Knowledge Problem

Tragedy of the Anticommons

Public Choice Recapitulation

Public Choice and the Constitution

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