Abstract
In the conventional positive neoclassical economics, the underlying behavioral assumptions concerning government activity clearly contrast with those usually admitted for other economic agents. While the latter are assumed to seek their own private interest, although accomplishing in that way a social function, governments are assumed to have as their main objective the maximization of social welfare. Hence, the assumption that economic policies are intended to stabilize economic activity follows as a consequence. The inconsistency of this asymmetry between the treatment of government and other agents was clearly stressed by Downs (1957):
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
