Tag: incentives

What Economics Can Teach Us about Ebola

By John C. Goodman There are two fundamentally different ways of thinking about complex social systems: the economic approach and the engineering approach. The thinking about Ebola at the Centers for Disease Control and Prevention (CDC) reflects the engineering approach. The behavior of everyone else reflects the economic approach. Social engineers see society as disorganized, unplanned and inefficient. The solution? Let experts take over. Social engineers inevitably believe that a plan can work even though everyone who is expected to carry it out has a self-interest in defeating it. Implicitly they assume that incentives don’t matter. Or if they do matter, they don’t matter very much. Economics is the science of incentives. Almost everything interesting that economists study flows from… View Article

When I served four terms in the state Senate, one of the few places where you could go to always and get concrete information about real solutions was the Georgia Public Policy Foundation. That hasn’t changed. [The Foundation] is really right up there at the top of the state think tanks, so you should be very proud of the work that they are doing!

Congressman Tom Price more quotes