Public policy objectives and principles roger kerr new zealand business roundtable
This presentation is the property of its rightful owner.
Sponsored Links
1 / 23

Public Policy: Objectives and Principles Roger Kerr New Zealand Business Roundtable PowerPoint PPT Presentation


  • 54 Views
  • Uploaded on
  • Presentation posted in: General

Public Policy: Objectives and Principles Roger Kerr New Zealand Business Roundtable. “The framework of institutions, laws and programmes laid down by the arms of government (parliament, the executive and the judiciary) that regulate the economy and wider social interactions.”. Critical issue:

Download Presentation

Public Policy: Objectives and Principles Roger Kerr New Zealand Business Roundtable

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Public policy objectives and principles roger kerr new zealand business roundtable

Public Policy:

Objectives and Principles

Roger Kerr

New Zealand Business Roundtable


Public policy objectives and principles roger kerr new zealand business roundtable

“The framework of institutions, laws and programmes laid down by the arms of government (parliament, the executive and the judiciary) that regulate the economy and wider social interactions.”


Public policy objectives and principles roger kerr new zealand business roundtable

Critical issue:

The proper role of government


Public policy objectives and principles roger kerr new zealand business roundtable

IRELAND

HONG KONG

SINGAPORE


Objective of public policy

Objective of public policy

Human flourishing

- not just about economy, monetary values, efficiency

- encompasses fairness, environmental quality, freedom


Public policy objectives and principles roger kerr new zealand business roundtable

  • Ideological?

  • Should be evidence-based

  • Role of economics

  • Free trade, school choice, privatisation

  • Boundaries of political debate


Public policy objectives and principles roger kerr new zealand business roundtable

  • Common framework

  • Markets vs government

  • Invisible vs visible hand

  • Need governments to set rules of game


Voluntary cooperation

Voluntary cooperation

Market exchanges

Politics/collective choice


Voluntary cooperation1

Voluntary cooperation

Dominant means of getting what we want

  • Norm in families, small groups

  • Also clubs, associations, charities

  • Involves redistribution within families and through altruism

  • Works best in ‘face to face’ settings

But can’t run a large society that way


Market exchanges

Market exchanges

Essential for society at large

  • Gains from specialisation and trade

  • Prices

    - transmit information

    - coordinate plans

    - markets continuously adjust

  • Consumers’ interests paramount

But - market failures


Politics

Politics

  • Voting mechanism is imprecise - candidates, parties, electoral systems, accountability

  • Coercion- not mutual benefits, as with markets & voluntary cooperation

  • Tyrannies of majorities and minorities

Political market failures


Upshot

Upshot?

  • No ideal yardstick

  • Political/government failures routine, not exceptional

Must compare real-world alternatives


In choosing among real world alternatives

In choosing among real world alternatives

  • Focus on incentives

  • Bias in favour of economic freedom

Implies limited government


How do we constrain government

How do we constrain government ?


How do we constrain government1

How do we constrain government ?

Economic constitutions

Sound processes

  • Compensation for Regulatory Takings

  • Taxpayer/Ratepayer Bills of Rights


Public policy and business management

Public policy and business management

  • A country is not a company

  • National central planning doesn’t work

  • Different skill requirements

  • Problems with DIY economics


Conclusions

Conclusions

Good public policy: institutions that promote human flourishing

  • There is a significant role for government,

  • but

  • individuals need protection from government abuse

  • governments don’t necessarily act in the public interest

  • remedy of government intervention sometimes makes things worse


Public policy objectives and principles roger kerr new zealand business roundtable

The biggest public policy mistake:

to expect too much of government

The challenge:

how to restrain government to what it does well


  • Login