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Private Markets And Social Control, Lloyd D. Orr Oct 1974

Private Markets And Social Control, Lloyd D. Orr

IUSTITIA

The continuing failure of society to deal adequately with its problems has led to criticism that goes beyond the imperfections of a fundamentally sound social organization. Individual economic incentive and private markets, the basics of our economic organization, are condemned as inherently destructive of desirable social goals. It may be that such criticism is naive with respect to the basic history of economic organization and the prospects for meaningful alternatives. It also may be that the "solutions" offered are frequently more authoritarian than the critics allege the present system to be. We are still left to ponder the vital, long-standing, …

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Coal And The Appalachian Economy, William H. Miernyk Apr 1974

Coal And The Appalachian Economy, William H. Miernyk

West Virginia Law Review

No abstract provided.

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Budget Reform And Impoundment Control, L. Harold Levinson, Jon L. Mills Apr 1974

Budget Reform And Impoundment Control, L. Harold Levinson, Jon L. Mills

Vanderbilt Law Review

Impoundment has become a household word within the past two years, as controversy has raged over President Nixon's cutbacks of funds. Numerous significant governmental programs have been curtailed or disrupted. State and local governments face confusion about future funding. In dozens of cases, the lower federal courts have reviewed the exercise of Presidential discretion during the execution of appropriations, and in most cases the courts have determined that the President acted improperly. The underlying problem evidenced by impoundment remains unsolved, however, since it arises from tensions that build up throughout the budget process of the federal government, from the preparation …

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Economic Pressure And Antitrust (With James A. Wilkinson), Henry H. Perritt Jr. Mar 1974

Economic Pressure And Antitrust (With James A. Wilkinson), Henry H. Perritt Jr.

All Faculty Scholarship

No abstract provided.

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Institutional Change And The Quasi-Invisible Hand, Victor P. Goldberg Jan 1974

Institutional Change And The Quasi-Invisible Hand, Victor P. Goldberg

Faculty Scholarship

The fundamental principle of economics is that people will pursue their own self-interest within a given institutional framework. The economist's basic policy premise is that (so long as certain "market failures" do not arise) this self-interest will, like an Invisible Hand, guide resources to their proper usage; when market failures arise the usual policy prescription is to amend the rules (for example, by breaking up monopolies, placing an "optimal" tax on pollution, or redefining property rights) to make the marginal private costs and benefits equal to the marginal social costs and benefits so that the free play on self-interest will …

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Feasibility In Chapter X Reorganizations, David R. King Jan 1974