Examlex
Explain the programmer's saying from the text,section 2.2,"Garbage in means garbage out."
Shortsightedness Effect
The misallocation of resources that results because public-sector action is biased (1) in favor of proposals yielding clearly defined current benefits in exchange for difficult-to-identify future costs and (2) against proposals with clearly identifiable current costs that yield less concrete and less obvious future benefits.
Private-Sector Provision
The production and supply of goods and services by businesses or entities that are not part of the government or public sector.
Rationally Ignorant
A state where the cost of educating oneself on an issue exceeds the potential benefit that the knowledge would provide.
Public Choice Perspective
A theoretical framework that applies economic principles to political processes, viewing government actions and decisions through the lens of economic efficiency and individual self-interest.
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