Naked economics

 Charles Wheelan
Presupposes security and rule of law as well as low level of corruption. Including working gov, populace paying taxes.  Huge non-market structures.

Individual incentive only? What about communal incentive?  Gets wrong same thing Marx did. People not just interested in one thing.  We made decisions for families towns states countries ethnic groups sports teams church grups, etc. far more complex the let on. 
Leaded gas, acid rain

Better = cheaper goodsMarket economy credit for public health? 
Market Econ better than central planned Econ but what about decentralized Econ? Lenin very against worker control.  What might have happened? Market Econ with worker ownership?

Max utility – not just utility. Push our pref on others.  Market does that. Carbon market. Trade tariffs. Banking practices.

Max utility includes many things when defining. Charity, generous, altruism, Always act best utility given info. Well off as possible.  This then applied only to sphere of goods and services. For instance, job teaching kids or marketing cigarettes.  How u feel has utility.  Ok, used to convince us that max utility applies to all. But then those perceived values dissapper. Re idea that low cost goods equal to higher wages. Who makes that utility decision? Not ind

Winners / losersGate allotment for airports, controllers 
Price Discrimination. Differ for differ people. Tailor price tags. 
Market economy functions by producing things we want to buy. Firms exist to make profit, only way to make what we want.  – delimited by definition.  

Market rewards scarcity, no inherent relation with value.  (Amoral) market not provide what we need, what we want to buy.

Market as disruption system – uses price. Self correcting (while hidden limits). 

Trade – excuse inequities cause it is better than work locals get. Low wage a symptom not cause.  Symptom of what? 

Bounded rationality. Rule of thumb. How we make decisions. 
Gov lowers cost of business many ways. Rules, regs and enforcement. Sound currency. Builds and maintains infrastructure.  Provides security or person and property. India court system – can wait over 30 years. Over 300 years behind. 

Trade related job loss are low. New jobs created. What are new jobs?
Trade lowers cost of goods, same as raising income. We can afford to buy more. Yet it determines what we can by leaves less room to define our own utility . From utility perspective it lowers freedom . 

Criticism of trade is that priorities buried. Reduce agricultural tariffs. 
Globalization have higher growth and more freedom.  Less, worse off. Criticism is not of trade but details. Supra-legal framework, buried priorities, financial penalties for those who stray.  

Environmental decisions should be local.  Not decreed globally. Yet trade agreements don’t allow countries to make local decisions, undermine that authority.  

Also, the carbon market really hurts poor counties. 
Laws courts taxes ability to collect willingness to pay. 
Productivity determines standard of living 
Open for export.  Blocking African exports. (Sacks). 
Iver coast.  Men grow some crops, women others.  Esther deflaut.  Women crops do well more money on food. Men. Booze Tabasco 
Incentive. Trash by volume 

Small farms not economical against corpTrue cost-cheaper on front end less healthy Fewer jobs. More pesticides. Lobbies lawyers Way of life. More than way it looks. Make milk better not cheaperHow choose cost over quality Information. Just like we don’t understand incentives, personal and social health.