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In social science and economics, public interest is "the welfare or well-being of the general public" and society. [1] While it has earlier philosophical roots and is considered to be at the core of democratic theories of government, often paired with two other concepts, convenience and necessity, it first became explicitly integrated into governance instruments in the early part of the 20th ...
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
Public interest law refers to legal practices undertaken to help poor, marginalized, or under-represented people, or to effect change in social policies in the public interest, on 'not for profit' terms (pro bono publico), often in the fields of civil rights, civil liberties, religious liberty, human rights, women's rights, consumer rights, environmental protection, and so on.
There is an important conceptual difference between the sense of "a" public good, or public "goods" in economics, and the more generalized idea of "the public good" (in the sense of common good, public benefit, or public interest), "a shorthand signal for shared benefit at a societal level".
In the United States, the concept of government interest arises especially when certain constitutional issues are before a court of law.Under US constitutional jurisprudence, arising from US Supreme Court decisions, the courts weigh the government's interest in a particular subject matter against the impact of restrictions being imposed on the individuals' rights and interests.
For example, a five-year loan of $1,000 with simple interest of 5 percent per year would require $1,250 over the life of the loan ($1,000 principal and $250 in interest).
A general welfare clause is a section that appears in many constitutions and in some charters and statutes that allows that the governing body empowered by the document to enact laws to promote the general welfare of the people, which is sometimes worded as the public welfare. In some countries, it has been used as a basis for legislation ...
Regardless of what the Fed does, he said, consumers can keep credit interest rates low fairly easily. They can pay their credit card bills on time and pay no interest, or shop for lower rates ...