RMI-2302 Lecture Notes - Lecture 5: John Stuart Mill, Amartya Sen, Ed Diener
14 Feb 2016
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Rmi 2302 exam 1 study guide. The free market fails to protect consumer interests, requiring the government to find appropriate ways to protect us from ourselves. In a world dominated by rational behavior, the government could focus on externalities and focus less on consumers. There needs to be a balance between a number of competing objectives when making policy decisions (happiness, freedom, health, education, etc. ) Urged politicians to design policies that maximized people"s happiness, increasing their pleasures and reducing their pains. No good ways to measure people"s hedonic well being. John stuart mill child prodigy and prot g of bentham: was homeschooled by his father (james mill) and bentham. His childhood was dictated with an extreme level of control, he had no friends, no poetry/art and was monitored by daily schedules. He could read greek at age 3 and wrote a 1500 word history of.
