Principles for Policy Makers

Gary Shiffman and James J. Jochum

Chapter Chapter 3 in Economic Instruments of Security Policy, 2011, pp 39-45 from Palgrave Macmillan

Abstract: Abstract Economic science grew out of an inquiry into human nature. Each individual maintains some traits common with individuals throughout the world and throughout history. Specifically, each individual desires survival and well being for self and others; the stronger the kin relationship, the stronger the shared drive for survival. Each of us is hardwired to make decisions that maximize our survival, survival for our kin, and for those in our future generations—“self-preservation, and the propagation of the species.”1 Our individual drives to maximize clash with the reality of scarcity. We have limited ability, wealth, and time, so we must make choices each day. Everyone faces scarcity of one form or another. Economics is the study of the complexity of this simple articulation of human nature; this book applies the theory and methodology to security analysis and policies.

Keywords: Marginal Cost; Trade Policy; Security Policy; Economic Instrument; Safe Harbor (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-12362-6_3

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DOI: 10.1057/9781137123626_3

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