Tuesday, January 10, 2012

G30 - TPS - Explaining The Euro To A Washington Audience

Tommaso Padoa-Schioppa; 2001

"...From an intellectual point of view, federalism is a fascinating subject because it relates to the definition of the area, in which a good is in fact public, i.e. whether it is a local public good or whether, at the other extreme, it is a world one. Not all public goods are public in the same sense. If ultimately, the essence of a policy function in the economy is to pursue a public good or a public interest; and if it is true that"public"  may mean different things to the different communities; and if the optimum is to be neither bellow nor above the level at whicha good needs to be recognised as public, then a multi-tier governance of the economy is necessary...."

Source: http://www.group30.org/images/PDF/ReportPDFs/OP64.pdf

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