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Values in economic decisions and policymaking

Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.14/101449

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Title: Values in economic decisions and policymaking
Related: International journal of public administration, Vol. 33, Issue 6 (2010), p.289-301
DOI: 10.1080/01900690903455639
Publisher: Routledge
Date: 2010
FoR/RFCD Code(s): 160500 Policy and Administration
Author/Creator: Gates, Donald Keith
Author/Creator: Steane, Peter
Description: The authors argue that values influence decisions taken by policymakers and that decision and policymakers can follow one or the other of the two distinct paths - altruism and egoism. However, the main purpose of this article is to investigate outcomes of government and corporation policies formulated in accordance with theories espoused in economic rationalism or neoclassical economics. These show that they generally follow the path of egoism. The occasional result is that although multinational enterprises and other corporations contribute to the relief of natural and economic problems, they may in fact be contributing simply out of corporate self-interest. The recent collapse of financial markets in the United States and throughout the globe is identified as a result of business activities designed to seek higher corporate profits and higher executive payouts, which are motivated by self-serving values linked to the ideologies of neoclassical economics or economic rationalism. The article argues for a just and fair redistribution of incomes, possibly best achieved through the taxation system and opens the way for further research on the alternative path - the path of altruism.
Description: 13 page(s)
Subject Keyword: 160500 Policy and Administration
Subject Keyword: bankruptcy
Subject Keyword: economic rationalism
Subject Keyword: egalitarianism
Subject Keyword: financial crises
Subject Keyword: policymaking
Subject Keyword: taxation
Resource Type: journal article
Organisation: Macquarie University. Macquarie Graduate School of Management

Identifier: http://hdl.handle.net/1959.14/101449
Identifier: ISSN:0190-0692
Identifier: mq-rm-2009010300
Language: eng
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