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ECO 481: Public Choice Theory

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ECO 481: Public Choice Theory Introduction to Public Choice Dr. Dennis Foster 523-8178, FCB #308 Office Hours M/Tu/W/Th 1:30 pm - 3 pm; and by appointment. – PowerPoint PPT presentation

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Title: ECO 481: Public Choice Theory


1
ECO 481Public Choice Theory
  • Introduction to Public Choice

Dr. Dennis Foster 523-8178, FCB 308 Office Hours
M/Tu/W/Th 130 pm - 3 pm and by appointment.
2
What is it all about?
  • New theory.
  • Are public actors different than private ones?
  • Voterconsumer and politicianbusinessman
  • Even where we agree about private sector, govt
    is involved.
  • Toy regulation on Stosselhttp//www.youtube.com/
    watch?v-r3aMsXPmXQ
  • Does government solve all our problems? Does it
    solve any? Too late, too much, too long.
  • Welfare economists focus on market failure.
  • Theyre looking for flaws in a perfect system!

3
  • Can government deliver on promises?
  • Health care? Jobs? Global warming?
  • Are fiscal improvements not only thinkable but
    even fashionable and, perhaps, politically
    expedient?
  • Public choice as a theory of government failure.
  • Some observations
  • Government isnt the default for fixing
    problems.
  • Market alternatives getting more serious
    attention.
  • Decentralization competition viewed more
    favorably.
  • Review reading list for weeks 1 and 2.

4
ECO 481Public Choice Theory
  • Introduction to Public Choice

Dr. Dennis Foster 523-8178, FCB 308 Office Hours
M/Tu/W/Th 130 pm - 3 pm and by appointment.
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