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In this model, "social ownership" refers to citizen ownership of equity in a market economy. James Yunker argues that public ownership of the means of production can be achieved in the same way private ownership is achieved in modern capitalism, using the shareholder system that effectively separates management from ownership.
Social equity within a society is different from social equality based on formal equality of opportunity. [2] Providing hearing aids for the deaf would be considered social equity as it furthers the ability of people to equally partake in society, whereas if they were given completely equal treatment, they would not have these opportunities.
Lange believed that such a congress could act in a similar way to a capitalist: through setting price vectors, it could achieve any optimal production plan to have achieve efficiency and social equality. [29] His reasoning is a mathematical translation (into Lagrange multipliers) of Lerner's graphical argument.
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [1]The principles of welfare economics are often used to inform public economics, which focuses on the ways in which government intervention can improve social welfare.
A social scoring function maps each candidate to a number representing their quality. For example, the standard social scoring function for first-preference plurality is the total number of voters who rank a candidate first. Every social ordering can be made into a choice function by considering only the highest-ranked outcome.
In his speech to both chambers of Congress tonight, President Donald Trump rattled off a list of specious grants allegedly uncovered by his newfound Department of Government Efficiency (DOGE).
Mankiw provides a summary of eight lessons that represent the current thought in optimal taxation literature. They include, first, the idea considering horizontal and vertical equity, that social planners should base optimal tax schedules on income rates for labour, which marks the equality and efficiency trade-off.
The Department of Defense could save up to $80 million in wasteful spending by cutting loose a handful of diversity, equity, and inclusion (DEI) programs, the agency said Monday.