Public Policy in Public and Social Care - Essay Example

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Public Policy in Public and Social Care

Thus consumers would benefit from plenty of cheaper goods. However conservative economics has acquired a newer dimension in that the absence of concern among conservative economists for environment related problems is changing for better.
Karl Marx, the German political thinker, is better known for his ideological premises expressed in his treatise Das Kapital. Marxian economics is based on these thoughts, though most of his teachings are basically centered on the perpetual conflict between the bourgeoisie and the proletariat. His economic thoughts though aren't substantial are concerned with how working classes are able to run the country's economy with fair play and social justice. When all productive resources are controlled by the proletariat a comparative cost/benefit analysis is not possible.
This paper takes the free market appraoch as the point of refernce for comparative analysis. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. ...Show more

Summary

Mainstream economics is concerned with orthodox approaches to solving economic problems. It's opposed to heterodox economics. Though it's neither a branch of economics nor a school of thought as such, it seeks to align itself with neo-classical economics. More recently it has sought to apply a broader theoretical and conceptual tradition of economic thought by placing emphasis on neo-classical synthesis - a combination of neo-classical economics and Keynesian economics.
Author : sanfordchrist
Public Policy in Public and Social Care essay example
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