search query: @freeterm ideologies / total: 4
reference: 3 / 4
| Author: | Bénabou, R. |
| Title: | Joseph Schumpeter lecture: Ideology |
| Journal: | Journal of the European Economic Association
2008 : APR/MAY, VOL. 6:2-3, p. 321-352 |
| Index terms: | models government public sector markets |
| Freeterms: | ideologies |
| Language: | eng |
| Abstract: | This study develops a model of ideologies as collectively sustained distortions in beliefs concerning the proper scope of governments vs. markets. In interpreting signals of the efficacy of public and market provision of education, health insurance, pensions etc., individuals optimally trade off the value of remaining hopeful about their or their children's future prospects vs. the costs of misinformed decisions. As a result, endogenous social cognitions emerge, and there is an interplay on equilibria. With public sector capital, this interplay of beliefs and institutions leads to history-dependent dynamics. It is also explained by the model why societies find it desirable to set up constitutional protections for differing views. |
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