For economists evaluating alternative policies, the industry standard is the efficiency criterion, also known as the welfare criterion.
(I’ll illustrate what that means as I go along.) But now comes Princeton Professor Uwe Reinhardt with a piece in the New York Times that questions the orthodox approach found in virtually all modern textbooks (including one in particular). I’ve never heard of an economist who believes that every efficient policy is good, and I’ve heard of very few who believe that every inefficient policy is bad.
Merry Christmas from all of us here at Next Movie — as well as a multitude of movie characters — to all of you.
Is it better to tax carbon or to mandate fuel efficiency?
Is it better to foster global competition or to protect local industries? Instead, I will attack the meta-question of how to attack such questions.
The "2 Broke Girls" star had her nude pictures hacked almost two years ago to the day, and now photos from the same batch have made a reappearance.
A lot has changed for Dennings over the past two years.
Je rassure tout le monde immédiatement, aucun étudiant n’est revenu pour faire un massacre avec un pistolet mitrailleur acheté dans un supermarché du coin de la rue. J’ai oublié de vous dire, le prof s’appelait Léonard Skinnerd.