Lecture 18 April 10 - Lecture 18 Goals Consider larger...

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Lecture 18 April 10, 2014 Goals: Consider larger philosophical debates related to taxation, including the tension between efficiency & equity Review and expand our understanding of the policy process Identify and understand the standard steps of policy analysis (Speaker has been rescheduled for next Thursday) Dr. Nelson feels that the continuum between efficiency and equity is too simplistic Long-term vs Short-term efficiency Wall Street Regulations Moving on to: Evaluating public policy (would be very good for us to pay close attention) Model of Public Policy Formation (on power point notes) Chapter 15 stuff (filled out pages and put them on the board in class) Steps for policy: 1. Identify the potential benefit a. Identifying a goal and deciding what potential benefits or harms can come from achieving that goal b. List and briefly describe three pitfalls of this stage 2. Analyze why the market is not delivering a desirable outcome a. Markets are seen as self-correcting and often market failure will suggest a remedy for the government to step in b.
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