Market gorvenment analysis Article Example | Topics and Well Written Essays - 750 words

Market gorvenment analysis - Article Example Additionally, they should look forward to promote confidence and integrity in public administration. They must avoid any situations where their private interests and public interest conflict and those that are seen as a potential conflict in fulfillment of their duties and responsibilities. In instances where conflicts between public and private interests conflict cannot be avoided they must be well disclosed and managed. This essay discusses some of the philosophical views on the conflict between private interest and public interest. This framework can be simply summed up. Buyers attempts to capitalize on their gains from goods and services that are commonly referred to as maximizing utility. Similarly, individuals look forward to offer labor to companies that wish to employ them by balancing the gains they are getting from offering their services (wages) with the disutility linked with the labor itself (loss of leisure time). People make choices at the margin and this leads to the theory of demands for goods and services and supply of factors of production. On the other hand, producers make an effort to produce products such that the cost of producing the incremental unit is equal to the revenue it gains (Heilbruner, 1999). In this way, producers act in a way that maximizes profits. The neoclassical perspective therefore involves agents be it individuals, households or firms and all of them are subject to conditions. Adam Smith was the major contributor to the neoliberal perspective and his works sought to address the motivation behind economic activity, policies that should be followed by states to increase their wealth and the mechanism behind price increases and distribution of wealth. He stated that so long as the forces of demand, supply, competition and prices should be left free of government intervention. This perspective gives emphasis to pursuing