James Buchanan pointed out that the problem with much policy-related economics is that it assumes one type of human person in the market place (the imperfectible human being generally pursuing his own self-interest) and a different type of human person in government (the public servant only interested in the general public interest). Those who believe in markets simply believe that there is only one type of human person. Persons may be good, bad or indifferent; they may pursue their own self-interest or be entirely selfless. We all come with a mix of these different characteristics – a different mix, but a mix nevertheless.
Read the full blog post hereSource: http://www.iea.org.uk/blog/how-many-types-of-human-being-%E2%80%93-mid-staffs-and-public-choice
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