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Q. What can we do then while aiming at the public policy?
From the above, one task emerges immediately, that is of quantifying all economic and non economic effects of a certain policy measure; presenting them whenever and wherever possible in the same or compatible units. Attempts in this direction are known as "Policy Process" or policy analysis. This activity has a clear cut advantage. If tends to bring various disciplines together to cooperate. This has been the fundamental motive behind development of the School of Synergetic economics. It is, due to the very complexity of the subject matter, it is no longer possible for a policy maker or a policy scientist who is skilled in one discipline to research a problem for policy that affects society without calling in help of researches from other disciplines.
In Policy science, an economist can be no longer afford to be merely an economist, he will feel as if he is no more than a technician and will be unable to make a society accept his proposals on their technical merits alone. In the same spirit, cost benefit analysis cannot be limited only to the study and evaluation of the direct effects of a certain project, but must include indirect effects as much as, is reasonably possible.
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
Industries in the country of Technologia invest in latest equipment that annually enhance productivity of private workers by three percent. Government employees do not profit from
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Are there any welfare or subsidy payments that should be renewed or added? 2.What are the costs and consequences of providing the subsidies and welfare? 3.Are there any current sub
Q. Show the Traditional decision analysis? Traditional decision analysis rests on the key assumptions about the type of information available to the decision maker. Powerful B
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Case for the Market With the objective of maximising total value of output focused on observing real factors of production, through the logical 'tool of marginal produ
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The marginal external cost associated with the emissions of sulfur dioxide is estimated to be $30 per pound of this chemical per year. Assume that each ton of steel produced per ye
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