PSCI 3325 Lecture Notes - Lecture 10: European Cooperation In Science And Technology, Philosopher King, Discount Window
18 Oct 2016
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Economics is desired because of all the numbers and the appearance of rigor. Interpersonal counterbility - arbitrary judgments, you cannot cross people"s number that way. Their levels of happiness, meaning of numbers, are going to be different. Idea is that only adopt policies where benefit exceeds costs, there is a surplus. Budget - fund the one that has the highest ratio between benefit and costs, and so on : offers the idea that you can objectively measure what is good and best, without relying on government/political processes. Kaldor-hicks compensations principle: as long as the policy------, winners can compensate for the losers. Do they really compensate for losers - usually not. Probably want to provide some help, provide some transition or aid. They tend to be underfunded at first and die away. Total benefit minus total cost in the whole nation: bigger the difference, the better.
