Iron Law of Public policy?

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Chapter 1

• Iron Law of Public policy?
• Types of government policies?

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Iron law of public policy

• For some businesses, profits increase when
  government acts for others, profits
  fallsEvery act of government no matter what is
  broader merits or demerits for society at large,
  creates winners and losers within the competitive
  sector of the economy.

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Types of public policy

• Distributive
• Redistributive
• Regulatory Restrictions, monitoring, and forcing
  companies.

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Chapter 2 (1) How the market works?

• What is the market?
• Assumptions to understand how the market works?
• What is Laissez-faire?
• Why should we support or restrict laissez-faire?
• The price mechanism

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Assumptions to understand how the market works?

• Individuals unit of analysis
• Individuals are self-interested
• Individuals are rational

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Why should we support Laissez-faire?

• Efficiency
• Innovation
• Liberty