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Knowledge and Incentives in Policy

Using Public Choice and Market Process Theory to Analyze Public Policy Issues
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Description

The relative effectiveness of various institutions, such as the market or government, is based on the ability for individuals to access and use dispersed knowledge in society and the incentives that steer their actions. Market process theory emphasizes the effectiveness of the price system to consolidate and transmit knowledge in the marketplace. Together this framework provides new insights on the capability of individuals to cooperate and improve society, and the limits to government interventions in society. The original research in each chapter uses this economic way of thinking to analyze a variety of public policy issues, examining the incentives responsible for and the factors that contribute to the creation and effectiveness of the policies. These chapters, authored by public policy practitioners and researchers, tackle such pressing issues as public education, the process for approving medical devices, tax policy, and land use regulation.

Author Biography:

Stefanie Haeffele is the Deputy Director of Academic and Student Programs and a senior fellow for the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University.
Release date NZ
June 8th, 2018
Contributor
  • Edited by Stefanie Haeffele
Pages
302
Audience
  • Professional & Vocational
Illustrations
Illustrations, unspecified; Tables; Charts
Dimensions
163x229x25
ISBN-13
9781786603975
Product ID
27638031

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