Should basic human needs be catered to as services within the framework of a market order, where forces of demand and supply shall determine the price for each interaction aka transaction and the social value created for the consumer via production, exchange and consumption?
For e.g. should the receiver of services in lieu of tax money and welfare benefits earmarked by a government in areas such as health and education be treated as consumers in any other industry?
Should we have the option to choose the most efficient hospitals, and schools?
Each public service providing institution should be corporatized?
Each public service institution should have a Profit and Loss A/c and a balance sheet?
Each public service institution should treat recipients as buyers of products and their interactions akin to transactions?
Social Choice Theory, full costing, and Consumer Psychology have different effects on different public service institutions.
To make public service providers more efficient, there should be more competition.
That requires a market structure and independent pricing/ costing.

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More from @SAH16928046

15 Jul
Is this Unanticipated or Anticipated Inflation Risk?
This is what economists need to explain to us!
We knew it was coming due to the reflationary policy stance of central banks in the first world, and elsewhere.
But, the augmented rate was not unexpected.
But, this is not the 1970s, when oil price shocks, and other supply-side macroeconomic and microeconomic distortions of the postwar years raised the inflation rate unexpectedly to astronomical heights.
I don't see any massive stagflation developing due to technological gains.
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won't return again!
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Prices and #Unemployment have been disentangled.
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15 Jul
As part of the Financial Literacy Programs, all individuals must learn how to manage their retirement investment proceeds and personal wealth.
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How wrong!
In most of the developing countries where old-age financial benefits are not sponsored or guaranteed by the government, via social safety nets, the vulnerable people are left at the mercy of the market, extended family network or the philanthropist to help them.
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14 Jul
Late Lee Kuan Yew was right when he said that new businesses require new skills, which in return require more vocational and academic training for the workforce.
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What quantitative aptitude do Finance and Risk Management require?
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Mathematics is the Queen of all Natural Sciences.

However, its applications in Social Sciences and its sub-fields such as Economics and Business Studies is growing all the time.

Finance and Risk are broadly categorized as subfields of Microeconomics.
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Every Concept has a Form, as expounded by #Plato.
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Top-Down Vs. Bottom-Up Style of Investment Analysis: Risk Versus Research Desk Perspectives
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In the field of Investment Risk and Research Analyses, the research/risk analyst has to make a choice between two asset selection and/or allocation approaches.
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