Principles for Policy

Gary Shiffman

Chapter 4 in Economic Instruments of Security Policy, 2006, pp 65-71 from Palgrave Macmillan

Abstract: Abstract As a recap, we’ve argued that man’s nature is universal and constant, and we used Adam Smith to reinforce our arguments. We’ve argued that scarcity forces people to make choices. These two elements lead to a science of decision-making. We’ve highlighted the importance of institutions, as well as the limits of the assumption of rationality. Next we will apply all we’ve covered to world leaders—good guys and bad guys. We will discuss how to craft policies and how not to craft them, or at least understand why policies are enacted which do not make the world richer or safer. But first, let’s try to distill this theory into some tools of economic thinking in brief. If we avoid violating these principles later in the book, then the policy may be sound. If it fails even one, the policy will surely fail.1

Keywords: Marginal Cost; Trade Policy; World Leader; Economic Instrument; Safe Harbor (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50537-7_5

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DOI: 10.1057/9780230505377_5

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