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With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relating to equilibrium state, optimal solutions, intergenerational optimizations, theories of choice and justice, etc. Now, instead of revisiting those theories over again, we will focus on their applicability to policy processes. In the course of the study we will see that the beauty of those theories, created under idealized framework is lost in applications. Even the very ethical ideals and notions of justice are compromised on the grounds of various claims made by special interest groups in policy process.
But you need not lose heart. You have to take it as a challenge to make your self capable of modifying theories on the basis of real would facts and to be able to make best explanation of facts on the basis of those idealized theories you have been studying. This real-idealized interaction has been very fruitful in advancement of all the branches of knowledge.
Question 1: "The only social responsibility of business is to increase its profits" wrote Milton Friedman, Economics Nobel prize winner, in an article in the New York Times Mag
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This question considers the possibility of foreign aid in exchange for favors. Suppose nation A has RA resources in its treasury and nation B has RB resources. The winning coalitio
why-this-behavior-consistent-with-size-maximizing-government
Problem 1: i) Define the three main Economic Systems? ii) How can knowledge on price, income and cross price elasticity of demand, be helpful to the Government and a firm,
Q. Describe ex-ante heterogeneity? First conflict reflects heterogeneity among agents due to different policy preferences. Individuals or agents are heterogeneous in a number o
Q. What do you understand by Policy Process? Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents
1.) In what way is insurance for medical loss/illness differ from insurance for any type of property loss?
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