Describe the Five Propositions of Public Choice Theory

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Examlex · Accepted Answer

The Answer is The purpose of public decisions is to promote the welfare of society.
The welfare levels of the individual members of society are the building blocks for the welfare of society.
Anything that affects the individual welfares therefore affects the welfare of society. Something that has no effect on individual welfare levels has no impact on the welfare of society.
With rare exceptions, we should accept individuals' own judgments as the appropriate indicators of their own welfare.
We would like to have an unambiguous procedure for aggregating the welfares of different individuals so that we can compare the welfare of society if one policy is followed with its welfare if another policy is followed. [Emphasis added.]

Describe the Five Propositions of Public Choice Theory

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