Los Angeles Mayor Richard Riordan tried to contract out garbage collection when he first came into office eight years ago. The rules of the game affect people s choices . This social experiment failed. In economist s terminology we say that smaller cities lower the costs of monitoring public officials. Understanding based on knowledge and evidence imparts value to opinions .
Economists test their models with data.
That is an empirical question. Economists test their models with data. One economist has theorized that the presence of guns raises the risks for criminals and deters crime. When my daughter was little she wanted to know why we have to pay for things in the store. Raising the minimum wage will reduce employment.