IBE316-13 - IBE 316 Economic Policy Stiglitz: Economics of...

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IBE 316 Economic Policy Stiglitz: Economics of the Public Sector Chapter 13: Defense and Technology Keisuke OTSU Sophia University FLA Spring 2008 OTSU (Sophia University FLA) IBE 316 Spring 2008 1 / 13
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Review Market failures lead to excessive expenditures on health care third-party payment ± fee for service Health insurance has problems: moral hazard, adverse selection, high transaction costs Government is trying to reduce the cost of health care expenditure Japan: Long term elderly medical care (article on moodle) OTSU (Sophia University FLA) IBE 316 Spring 2008 2 / 13
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Overview Focus Questions How do we go about deciding how much to spend on national defense? What are the current key issues concerning defense strategy and their implications for the level and allocation of defense expenditures? What are some of the key ways by which the Defense Department is currently attempting to increase e¢ ciency? What is the rationale for government actions to promote research and new technologies? What are intellectual property rights? What are the other ways by which government encourages the private production of knowledge? OTSU (Sophia University FLA) IBE 316 Spring 2008 3 / 13
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Overview Peace dividend: people thought US defense expenditure will decrease after the cold war technology
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This note was uploaded on 10/22/2011 for the course ECON 316 taught by Professor Keisukeotsu during the Spring '08 term at Sophia University.

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IBE316-13 - IBE 316 Economic Policy Stiglitz: Economics of...

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