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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Informing Public Policy: Analyzing Contemporary US and International Policy Issues through the Lens of Market Process Economics

Informing Public Policy: Analyzing Contemporary US and International Policy Issues through the Lens of Market Process Economics

Hall, Abigail R.
Millsap, Adam
Haeffele, Stefanie

Hardcover

Series: Economy, Polity, and Society

EconomicsGeneral Political ScienceSocial Movements

ISBN10: 1786609851
ISBN13: 9781786609854
Publisher: Rowman & Littlefield Publishers
Published: Apr 25 2019
Pages: 240
Weight: 1.09
Height: 0.56 Width: 6.00 Depth: 9.00
Language: English

Market process theory illustrates how the market is the most effective institution for overcoming the knowledge problem. Specifically, the institutional characteristics of private property, monetary prices, and the disciplining mechanisms of profit and loss, guide actors to utilize knowledge dispersed among society, to allocate resources effectively, and to adjust their behavior when errors occur to provide valuable goods and services to society.

The chapters in this manuscript explore, through applications to issues within the United States and internationally, contemporary issues in public policy through the theoretical framework of knowledge problems and market process economics. Utilizing this approach, as well as other fundamental insights from economics, these chapters aim to illustrate how individuals in society address pressing public issues, the problems faced by policymakers, and the potential for novel solutions to policy challenges. Authored by individuals from a variety of disciplines with interests in public policy, this work includes discussions of education, child welfare, urban planning, and U.S. healthcare policy, as well as topics in e-commerce, the Global War on Terror, international trade, and economic development.

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