Thursday 19 November 2009

No 11: The Queen's Speech

YESTERDAY was the Queen's speech. This is the occasion on which she reads out the government's proposed new laws for the forthcoming year. Historically, it is the only time of the year that the King or Queen is allowed to go inside the House of Lords. He or she is never allowed inside the House of Commons.







Here is a link to a BBC report about the laws proposed yesterday:


For AS students doing micro at the moment:

    •   read through the list and think of the market failures some of the laws are trying to correct.

For A2 students doing macro:
    • read through the proposed actions against bankers and the commitment to reduce the deficit.
Please post your comments below: I'm sure it will really help your fellow students to share ideas like this.

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3 comments:

  1. Crystal Anh25 November 2009 at 11:58

    They're trying to fix inequality of income and increase the amount of public goods?

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  2. spottygao27 November 2009 at 10:23

    Yes I certainly agree that there a lot of measures looking at problems with income inequality.
    You are also right that some others deal with public goods (army, police) but others are more about merit goods - education and care for the elderly especially.
    Just a reminder to AS students generally: the similarity between public goods and merits goods is that both have high levels of positive externalities; the difference is that the free market would not provide ANY public goods, while for merit goods there would be SOME but not as many as would be best for society.

    ReplyDelete
  3. Crystal Anh27 November 2009 at 21:49

    If neither public goods nor merit goods can bring the free market more profit, then why would it not provide any public goods but some merit goods?

    ReplyDelete

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