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07/07/2017

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John Quiggin

1. Weberian rule following with budget constraint is just incompetent rulemaking.

A competently designed rule implicitly incorporates the budget constraint. If you say, "anyone with medical condition X can have treatment Y", you ensure that the necessary resources are available. If they aren't you add a constraint on the rule. Sometimes that can be professional discretion, but (given competence) it can't be end of year blowout.

John Quiggin

2. Also important to think about non-rival but excludable goods, most obviously information. Free public provision obviates the rationing that's necessary if a commercial provider is to cover costs.

Eric Schliesser

On 1. I understand why you call it incompetent. But it may just be a politically acceptable outcome of some messy compromise.
On 2. Thank you, I had overlooked that!

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Here's a link to my past blogging (and discussions involving me) at: New APPS.

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