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Olivier Bargain, Ulugbek Aminjonov Four decades ago, Robert Lucas rocked economics with a simple observation: taxes and other government interventions in the private economy affect not only the costs and benefits of actions citizens may take (as intended), but also their beliefs about the future actions of others (including the government), possibly in counterproductive ways. For example, announcing stiffer penalties for non-payment of taxes provides an incentive to pay up; but it also may convey the information that non-compliance is common, leading formerly honest citizens to cheat. Lucas’ point was that policymaking is not simply resetting the dials on a given model of how the economy works, but instead changing the structure of the model itself (Lucas 1976). In 1994, Henry Aaron of the Brookings Institution pointed to “the failure of economists to take the formation of preferences seriously”, and suggested that the Lucas critique be extended to cover preference ....
The Uplift of Strangers: More Reasons to Dose Up on "Vitamin S" – Association for Psychological Science – APS psychologicalscience.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from psychologicalscience.org Daily Mail and Mail on Sunday newspapers.
Has giving gratuities reached a tipping point in restaurants? New report shows shifting attitudes windsorstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from windsorstar.com Daily Mail and Mail on Sunday newspapers.