But the alternative you put forward namely, that government play a greater role in certain aspects of last-mile broadband infrastructure raises profound concerns involving transactions costs (which are intertwined with public choice theory and the economic calculation problem).
This result is so devastating that many public choice economists themselves, including the father of social choice theory Kenneth Arrow, refuse to acknowledge what it implies: The myriad paradoxes and infirmities infecting democracy prevent it from ever living up to expectations that it can be a stable and efficient means of guiding and improving society.
Public choice theory explains the incentives and behavior of the tens of thousands of government employees who work in the bowels of the Bureau of Labor Statistics, Bureau of Economic Analysis, U.S. Treasury, Office of Management and Budget, Economics and Statistics Administration, and countless other agencies who generate and massage spreadsheets day in and day out.
FORBES: Distorted Government Statistics Endanger Our Economic Health
School choice, at least in theory, opens doors to much more innovation than the traditional model.
When a metaphysician makes a choice how to extend a theory, you have to make a decision.
Since legally the bosses only need the support of one union, Mrs Aubry, in theory, has no choice but to approve the accord.
If your herd is larger, your top choice is likely to be better, in theory, anyway.
Well, this is the choice that everyone always makes in theory, i.e. before they reach their peak.
Conventional economic theory argues that taxation distorts the choice between leisure and income.
If you have made a good genetic choice of partner (ie, someone with a significantly different MHC), then the theory suggests that you should not be able to choose something that smells nice to them based on your own preferences.
Clearly, the "great man" theory of history will always be ripe for debate, but as shown by a choice reading of CEOs the presence of a strong, charismatic leader can hold more sway in business than elsewhere.
Following this theory, the American Airlines-US Airways merger will bring about less competition, less choice and higher prices.
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