« Hume's Partial Critique of Rational Choice Theory (and Expert Overconfidence) | Main | On The Lack of Public Intellectuals among Academics »



Feed You can follow this conversation by subscribing to the comment feed for this post.

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!

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)

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


Blog powered by Typepad