Government & Business Chapter 1
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12 terms
Terms | Definitions |
|---|---|
 What should the role of government be? | normative - prescriptive - it should promote public interest |
| Governments act normatively in practice? | In truth, public interest not major determinant of policies, a private approach is sometimes apparent (due to political ties, special groups interested etc) |
| The Normative approach to policies revolves around... | a set of goals that are widely accepted as legitimate objects of government attention |
| What are the 4 goals of normative policy? | Economic efficiency Macroeconomic stabilization and growth Fairness (equity) Other social objectives |
| 1) Economic efficiency: | trying to make per capita benefits from the consumption of G&S's as high as possible |
| 2) Macroeconomic stabilization & growth | inflation & unemployment rates low, promoting growth |
| 3) Fairness (equity) | distributing the pie to all |
| 4) Other social objectives | ex: national unity, gambling limitations, alcohol etc |
| The Positive Approach to Policy Analysis | examines the reasons why policy takes the form it does (not necessarily normatively) |
| Important influences on the positive approach | Voting, special interest groups, etc |
| Distributive fairness: | A policy is fair if the allocation implications are fair |
| Procedural Fairness: | A policy is fair if the procedures to create final allocation are fair |
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