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- Title
Efficiency and Privacy in Public Subsidies to Private Businesses in the United States and the United Kingdom.
- Authors
Meyer, Peter B.
- Abstract
This article presents information regarding efficiency and privacy in public subsidies to private businesses in the U.S. and Great Britain. "Knowledge is Power." This old adage underscores a fundamental conflict present in public efforts to influence private sector economic activity in a democratic mixed economy. While institutionalists have examined the economics of information, attention has been focused on private sharing or restriction of information flows. Notwithstanding the centrality of analysis of power, the public-private dimension has received little attention, especially regarding the control of critical data as a source of control. The tension between public and private interests in data availability dogs all public programs. It is arguably starkest in the case of economic development efforts. Such programs provide subsidies or other benefits to companies in order to elicit behaviors that, presumably, would not occur in the absence of public support. An institutional approach is a problem-oriented one that concentrates on specifics.
- Subjects
ECONOMIC development; DOMESTIC economic assistance; PUBLIC spending; GRANTS in aid (Public finance); PUBLIC welfare; ECONOMIC indicators
- Publication
Journal of Economic Issues (Association for Evolutionary Economics), 1992, Vol 26, Issue 2, p661
- ISSN
0021-3624
- Publication type
Article
- DOI
10.1080/00213624.1992.11505324