BCOR%203010%20Class%208

BCOR%203010%20Class%208 - political and social system but...

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BCOR3010 Class #8: Okun, Student Presentation #1 (Merck & Vioxx and Tobaccco Companies), Introduction to Market “Failures”
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Today’s Outline A Little More Movie Debriefing Case #1- Merck & Vioxx and the Tobacco Companies Okun: Equality and the Market Comparing Okun and Friedman and Introduction to the Notion of Market “Failures.” 2
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Okun’s view of the market: efficiency versus equality The double standard of capitalist democracy: “professing and pursuing egalitarian ideals in the
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Unformatted text preview: political and social system but simultaneously generating and reinforcing gaping disparities in economic well-being…. .[The] pursuit of efficiency necessarily creates inequalities. And hence society faces a tradeoff between equality and efficiency.” 3 The Question Name two things YOU would provide to all individuals to give them a “minimum decent standard of living” consistent with a basic level of humanity. 4...
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This note was uploaded on 04/22/2008 for the course BCOR 3010 taught by Professor None during the Spring '07 term at Colorado.

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BCOR%203010%20Class%208 - political and social system but...

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