Challenges of an Aging Society: Ethical Dilemmas, Political

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Language: English

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But increased taxes and a reregulation of domestic and foreign trade would limit Reaganomics to an interesting but temporary experiment in economic policy. Consumers will want to buy more if the price is lower, but suppliers will want to sell more if the price is higher. This arises from an attempt to create a criterion for judging different allocations of resources to different ends which might be widely acceptable. (Whether it is or not is in fact debated, but that debate is beyond our aims here.) The suggestion is that we would be able to say that one allocation is better than another if at least one person is better off under the first allocation and no-one is worse off.

Pages: 464

Publisher: Johns Hopkins University Press; 1 edition (August 7, 2007)

ISBN: 0801886481

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