Economics of Public Policy

MacKay presents her first fact to grasp the audience’s attention. She conveys that most are dying to sell their kidneys. The quote sparked a curiosity in me and I started to search for the statistics. World Organization experts have revealed, “10,000 black market operations involving purchased human organs now take place annually, or more than one an hour”. People are truly selling organs by the hour. They are not dying to sell them, but one can assume healthy organs are in a high demand. This is an excellent way to grab the audience’s attention, but she provides no backup to further prove people are truly yearning to sell their

Deborah Stone compares the market and polis models of policy making with the intent to show that the original origin of the public policy discipline was to be grounded in a practical science, economics, but to also show how and why the economic approach to policy making has significant limitations. Stone is arguing against the view that policy decision making is rational decision making. Deborah Stone’s main reason for comparing the two models of policy making is to identify and critique the simplistic assumptions that have been used in the market and rationality project. Stone is attempting to point out the paradox that exists between the two because the two models are evidently contradictory, the market being ground in rationality and the polis being based on emotion. Stone compares the two policies in order to show that economics cannot be solely used to understand policy making because the two are fundamentally different. She also points out that policy is made in a political society and because of this the polis model seeks to explain public policy as it actually happens in reality since the field and study of public policy was created to allow government to make decisions that would best benefit their citizens.

The purpose of usury laws was to regulate the maximum interest rates of loans. This law was created to protect borrowers from excessively high interest rates. It insured that lenders could not put the borrower in a situation where they were not able to fully pay off their debt. However, as said on investopedia.com, “In the United States, individual states are responsible for setting their own usury laws.”

The first characteristic of market society that causes the change to market society essential is that within the economy there is self-regulation and it is defined as “market economy” (Polanyi 68).

A limited government, such as a commercial government, is required in order to have a successful and functioning free market society. Such a government provides legal context for contractual agreements, and maintaining law, but does not constrain the freedom of individual thinkers. This type of government does not interfere with the competitive nature, and innovative process of the free market. In fact, such government protects the rights of individuals and their interests, ideas, and innovations. In a government such as democracy, an individual’s freedom might be less than a Republic government, therefore limiting competition and innovation. Competition is constant in such an economy (limited government) that protects these rights and ideas.

We are living in market society, which is so different from previous societies. In market society, the whole of society is a system of self-regulating market (Polanyi 43). In order to make the market society function, people need to think and act in certain ways(Polanyi 68). For example, people in market society think that economic relations are much more important than interpersonal relations (Polanyi 44). Polanyi calls the emergence of market society “the great transformation”. My thesis statement is that the shift to market society is a

In the essay " Kidneys for Sale: A Reconsideration" by Miriam Schulman, kidneys are fair in our lives. The writer talks with important things in our lives related to our organs specificly kidneys. Everyday almost 17 people die when they wait for a suitable organ. In 2011, in United States, kidney transplants were about 15,417. They had a healthy way to transplant kidneys to other people. As they got it tested wheather if they can accept it or not. After transplangt there has been seen no harm. Ninty percent of people got kidneys from a living- donor and 82 % of people from died-donor. When they get it from poor people, they remain still alive at least five years. Actually the poor people sell their kidneys.

If the ideas of good economic were to exist in a three dimensional plane, Cass Sunstein wants the readers to believe that those who support the idea of Laissez-faire were only looking at the issues from a one or two dimensional model of the situation. Opponents of new dealers were not resentful of the existence of government or were the first to call on the government intervention in the areas that the government were more apt to guard certain freedoms better than the individual. With bestowal of the power, however, the framers specifically delineated its region and radius of

How would it feel to sell kidneys for money rather than just donating them? One of the many articles that Miriam Schulman, an assistant director of the Markkula Center for Applied Ethics at Santa Clara University, has written is “Kidneys for Sale: A Reconsideration”, which was published on the Markkula Center Website in April 2012. What this article talks about is how there is a shortage of kidneys and people are passing away every day because of not being able to get a kidney. There are a few ways to fix this problem and one of the most controversial ways to solve this problem is to let people sell their kidneys to people who need them. The intended audience for this article would be adults who feel that a kidney market would be considered wrong and people who are considering donating a kidney.

One topic subject to never-ending debate that is reviewed, revised, then and disputed among scholars, is the market and the economy. In the book, "The Mind and The Market" by Jerry Muller (2002), he discusses the different viewpoints of scholars about capitalism in the market and the influence society holds on it. This writing is comprised of summaries of several reviews from a variety of authors, which will include their viewpoints, their criticism, and an overall review from Muller 's work. These authors include Brian Fox, Patrick Murray, Charles Tilly, and Fritz Ringer. Each author originates from respected and prestigious journals from different universities, programs, and other education systems. All intellectuals are experts in their field of study with a background in either philosophy, history, or economy, making their viewpoints meaningful, insightful, and relevant. Following the summary of each review will be a comparison and contrasting piece, continuing into an evaluation addressing if they captured the book in an appropriate way. Concluding the essay will have an input of my own personal review of the book. As shown, the reviews vary with their personal opinions regarding the positives and negatives of Muller 's work.

When I was a boy growing up, there were people who loaned money illegally. They were called loan sharks. The nickname came from the fact that they would charge interest rates that were considered usury; therefore, they were against the law. In the movies and on television, they were portrayed as men who would send a thug over to your home to break your leg or arm if you didn’t pay when the money was due. Although it is true that loan sharks existed, they seldom were violent. In most cases, they would carry the loan over for another week or two and charge more interest. People would become in debt to these men, and it would be difficult to ever pay them back.

Usury laws establish a maximum rate of interest that cannot be exceeded for certain loans. Usury laws are intended to protect consumers from unscrupulous and excessive interest rates. It is the responsibility of individual states to determine the appropriate maximum usury limit (Investopedia, n.d.). Revised statute, title 9 section 3500 is the location of Louisiana’s usury laws. In part, Louisiana’s usury laws pertain to mortgage loans obtained by individuals. The usury laws aim at protecting consumers from unfair interest rates on their mortgage loan (Louisiana State Legislature, n.d.).

In contrast, the economy within societies based on tradition lies on procedures designed in the past and maintained by shared customs and beliefs which are extremely powerful (Helibroner 8). For a society based on commands, there is always an imposed authority or an economic command. The economic problems are solved according to the commander’s decisions (Helibroner 10). This is the very first time in human beings’ history that economy is run by markets, making the transformation to market society appear to be unprecedented (Polanyi 43).

Moral Forum gave me a better sense of the exploitation that would come with an organ market and also provided me with information on how to combat the glaring issue of organ shortages. These findings led me to be even more antagonistic towards the idea of forming a market for organs in the US, and I personally hope that the system is not established in any more

A Report for the Honorable Mayor, City Council, & Board of Directors of an African Country