Greg Mankiw writes in the New York Times:
The main question is how we, as a society, ensure that we all make the right decisions, taking into account both the personal impact of our actions and the externalities. There are three approaches.
Greg Mankiw writes in the New York Times:
The main question is how we, as a society, ensure that we all make the right decisions, taking into account both the personal impact of our actions and the externalities. There are three approaches.
+1 to Anacharsis, via Plutarch:
“In Greece wise men speak and fools decide.”
“The main question is how we, as a society, ensure that we all make the right decisions, taking into account both the personal impact of our actions and the externalities.”
An economist who thinks it is government’s job to make sure people make the right decisions. Of course, government gets to decide what the right decisions are. Ipso facto, people don’t get to decide at all.
“You vill like your choices. Or else.”