The Economist's View of the World
And the Quest for Well-Being
by:
Steven E. Rhoads
in:
Political Theory
Summary:
The book examines economic principles and how they influence public policy, arguing that economic thinking should be applied to a wide range of social issues to improve overall well-being. It explores the tension between market forces and government intervention, discussing the impact of incentives, trade-offs, and efficiency on policy decisions and societal outcomes.
Key points:
1. Rational Choice Theory: People make decisions by comparing costs and benefits to get the most satisfaction.
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