PPGC66H3 Lecture Notes - Labour Power, Retained Earnings, Statism

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magentahamster342

15 Oct 2012

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Polc66 - lec 4 - oct 4, 2012. Identifies three key forces underpinning the changing policy context in the last decade: globalization -> (a) changing nature of the state, (b) international monetary regimes, (c) nature and form of neoliberalism. One of the dominant models of public policy analysis both in terms of prescription and description. Sets out when and where governments should act and provides an analysis of how and why they act. Based on the argument that governments have the responsibility to try to correct market failures because society will be left with sub-optimal social outcomes if they are left to private decisions. Governments must (1) determine if a market failure is causing a social problem (2) intervene to correct it and (3) carefully evaluate their own capacity to correct identified failures. Based on the notion that private individuals should be expected to make most decisions and the market is the most efficient mechanism for allocated scarce resources.

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PPGC66H3 Lecture Notes - Labour Power, Retained Earnings, Statism

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