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Public choice and the social beneficiary

Author

Listed:
  • Mariana IOVIȚU

    (Bucharest University of Economic Studies, Romania)

  • Florina BRAN

    (Bucharest University of Economic Studies, Romania)

Abstract

Using the scientific tools for the positive-normative binomial approach, the present paper deals with the manner in which the “second best theory” represents the basis for the “public choice theory” in terms of rational allocation of resources between economy’s different components (sectors). For example purposes, it was examined the manner in which the ecological efficiency is found in the economic decision assessment system. Any development program that will be limited to the purely economic interactions, neglecting thus the repercussion on the social and ecological component is, from the start, unrealistic because not everything that is economically efficient is also socially efficient. The governmental intervention aims to correct the market failures in terms of rational resource allocation.

Suggested Citation

  • Mariana IOVIȚU & Florina BRAN, 2015. "Public choice and the social beneficiary," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(603), S), pages 91-102, Summer.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:2(603):p:91-102
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