A Ricardian interpretation of the provision of public housing services in Hong Kong

Article Abstract:

Th economic growth experienced by Hong Kong in the post World War II era is examined using a Ricardian framework of the relation between wages, growth and profits and with specific emphasis on urban housing strategies. High rental costs is believed to have contributed to high wages in Hong Kong. Government had to assume the initiative for housing provisions for workers since limited land area and prohibitive housing costs inhibited private investment. Data shows that public housing tenants used up 7% to 8% of their incomes for rentals while those in private housing used up 19% to 20% for rent. This is an indication of the effectivity of government housing provisions.

Housing, Hong Kong, Public housing

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The possibility of social choice

Article Abstract:

Impossibility results in social choice theory are the main reason why democratic social choice, including welfare economics, have often been considered as inapplicable in making social welfare judgments for the society as a whole. However, impossibilities and social choice pessimisms can be overcome by broadening the informational basis of social choice. A critical element in this broadening is the use of interpersonal comparisons of well-being and individual advantage, but this need not be the only form of broadening needed to resolve an impasse in social choice.

Welfare economics

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Public choice

Article Abstract:

The effects of political behavior motivated by individual material self-interest on public choice analyses of voters', politicians', bureaucrats', judges', and other gain-seekers' behavior, and on the theorists' proposals for reform were analyzed. Public choice was defined as the economic study of non-market decision-making, or simply the application of economics to political science.

Political science, Self-interest, Self interest

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