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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 ....
WHS student wins scholarship in essay contest; 11 high school students across county awarded Daily Light report On Sunday, April 25, the Rebecca Boyce Chapter of the Daughters of the American Revolution held its annual Good Citizen Patriots’ Tea at the First Baptist Church in Waxahachie. Regent Vicki Williams welcomed the 75 members, guests and honorees in attendance. Each high school in Ellis County was invited to choose their Good Citizen. This student exemplifies leadership, dependability, service and patriotism in their homes, schools and communities. Teachers and peers select the students because they demonstrate these qualities to an outstanding degree. Once a student is chosen as the DAR Good Citizen from their school, they are invited to participate in the scholarship portion of the program. This consists of a personal statement and an essay about our American heritage and the responsibility of preserving it for future generations. A $1,000 scholarship ....
Five Things for Dedham, Norwood and Westwood for May 20-27 Wicked Local 1 The Aaron Guild Chapter of the Daughters of the American Revolution will be holding its annual Garage/Estate Sale on May 22 from 9 a.m.-2 p.m. on Barlow Lane in Westwood (the first house on the right on Barlow Lane, just off Route 109). For sale will be household items, jewelry, kitchen utensils, bric-a-brac, toys, books, tools, small furniture, and estate items. Come early for the best selection. For more information on the sale, call Sunny O’Malley at 781-326-7799. The proceeds will be used to support DAR’s patriotic, historic and educational endeavors, such as the Good Citizen Award given to four deserving high school seniors from the area who were chosen as Good Citizens by their classmates and teachers. At graduation in June, each will receive a check from the Aaron Guild Chapter. The Chapter also donates the magazine “American Spirit” to four public libraries in the area: C ....