Title: Public Policy: The Lens of Political Economy
Abstract:Conflicts between the public interest and special interests naturally emerge in the design and implementation of public policies. Some public policies pursue the public interest by attempting to corre...Conflicts between the public interest and special interests naturally emerge in the design and implementation of public policies. Some public policies pursue the public interest by attempting to correct for market imperfections, lower transaction costs, effectively regulate externalities, or enhance productivity. Still other public policies are the result of manipulation by powerful groups actively engaged in the pursuit of their own self-interest. Regardless, conceptual formulations that attempt to explain or prescribe public policy emphasizing only one type of interest are doomed to fail. Frameworks that neglect the role of special-interest groups have little explanatory power. Models that presume that government has neither autonomy nor any interest in the size of the economic pie will also face serious limitations as an explanatory, predictive, or prescriptive framework.Read More
Publication Year: 2011
Publication Date: 2011-09-30
Language: en
Type: book-chapter
Indexed In: ['crossref']
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