Summary of Private Uses for Public Interest

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Issue:

Business

 

Written by:

Polly M

 

Date added:

January 26, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1173

 

Was viewed:

224 times

 

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Essay content:

Stiglitz criticizes this reason by writing about how this doesn`t work in public sector. Another reason the critics give are government is rife with inefficiency. Then he goes to critic the way everything is done in the white house. He writes about how government lacks empirical evidence and theoretical analysis at many times, and not only do bad arguments drive out good arguments, but good economists adopt bad arguments for the incentive...
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One was the pension reform, where government made a model to show companies to follow where the maintenance of pension will not be as high as it was before and will work efficiently. Since this led to more companies having pensions, this was a pareto improvement. Second example he gave was the inflation induced bond, where government benefits due to low interest rate, and the risk for people purchasing the bond is less because if there is an inflation, the value in real terms will be the same because it is inflation-induced...
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